One Time Mandate (OTM) through Automated Clearing House facility (ACH)
Computer Age Management Services Limited,("CAMS"), the service provider offers the facility of OTM through ACH to facilitate investments through online modes. This facility is in addition to the facility of remitting the money through internet banking. The facility can be availed by the investor by providing a onetime Mandate in the prescribed form and is subject to the following terms and conditions.
TERMS AND CONDITIONS
1) The Mandate will be registered under Automated Clearing House Mechanism (ACH) by CAMS or its appointed Payment Aggregator, (subject to the details provided being in order) through whom the mandate will be registered for the payments due from the Investor, (either for fresh purchase or additional purchase or SIP debits)
2) The investor agrees to abide by the terms and conditions of NACH facility of National Payment Corporation of India (NPCI), ECS facility of Reserve Bank of India (RBI) as applicable at the time of investment and as may be modified or amended from time to time.
3) The investor should refer to the Scheme Information Document (SID), Scheme Additional Information(SAI) and Key Information Memorandum, all Instructions, Addenda issued from time to time and available on the Mutual Funds¿ website towards Applicable NAV, Risk Factors, Loads and all other information related to various requirements of the respective Scheme / Plan before providing the OTM. It is deemed that the investor has agreed to all the terms and conditions of the scheme, as prevailing on the date of the providing the OTM. The AMC may amend any of the terms and conditions in the documents referred above, at any time without prior notice to the Investor and such amended terms and conditions will thereupon apply to and be binding on the Investor with respect to the OTM.
4) Unit holder(s) hereby confirms, acknowledges and undertakes to make payments for subscription of units from their respective bank account(s) only in compliance with applicable provisions relating restriction on third party payments as detailed in the SID / SAI and that the payment will be through legitimate sources only.
5) The Investor understands that this Facility is merely a transactional facility offered and that CAMS will not be liable for (a) acting in good faith on any instructions received from the investor (b) error, default, delay or inability of the CAMS to act on all or any of the instruction.
6) Authorization by Bank Account Holder(s) ¿ The Investor should provide the name of the bank & branch, bank account number and give the authorization for Registration under ACH. If the mode of operation of bank account is joint, all bank account holders would need to sign at the places marked. If the transaction is delayed or not effected at all for reasons of incomplete or incorrect information or due to any reason by the investor's banker, the investor would not hold the Mutual Fund or the Bank or the service provider responsible
7) Unit holder(s) need to provide along with the mandate form an original cancelled cheque (or a copy) with name and Bank account number pre-printed which is to be used for registration of the mandate failing which registration may not be accepted. The Unit holder(s) cheque/bank account details are subject to verification.
8) Where the cancelled cheque or a copy of the cheque does not mention the bank account holders¿ name(s), investor should provide self-attested bank pass book copy / bank statement / bank letter to substantiate that the first unit holder is one of the joint holders of the bank account.
9) In the event of any mismatch between the bank account number mentioned in the application form and the Account Number appearing in the cheque leaf submitted, bank account number would be updated based on the cancelled cheque leaf provided the name(s) of the investor/applicant appears in the cheque leaf.
6) Applications incomplete in any respect are liable to be rejected. CAMS / Service Provider shall have absolute discretion to reject any such Application Forms.
7) CAMS or other service providers shall not be responsible and liable for any damages / compensation for any loss, damage etc. incurred by the investor. The investor assumes the entire risk of using this facility and takes full responsibility.
8) I have understood the terms and conditions as contained above and hereby authorized CAMS/Service provider to register the Bank Account as contained in the application form under ACH and to debit the appropriate amounts from time to time in the above account through the ACH facility. I confirm that the above is an option given to facilitate investment through online facility and CAMS will not be held responsible for any loss direct or indirect arising from the use of the above facility for the investments made by me.
9) The investor hereby declares that the particulars in one time mandate and any subsequent transactions provided will be correct and complete. If the transaction is delayed or not effected at all for reasons of incomplete or incorrect information or due to any reason by the investor's banker, the investor would not hold the Mutual Fund or the Bank responsible.
10) Please refer the SID, SAI and Key Information Memorandum, all Instructions, Addenda issued from time to time and available on Funds¿ website towards Applicable NAV, Risk Factors, Loads and all other information related to various requirements of the respective Scheme / Plan before investing. It is deemed that the investor has agreed to all the terms and conditions of the scheme, as prevailing on the date of the application and investment.
11) Unit holder(s) hereby confirms, acknowledges and undertakes to make payments for subscription of units from their respective bank account(s) only in compliance with applicable provisions relating restriction on third party payments as detailed in the SID / SAI and that the payment will be through legitimate sources only.
12) The Mutual Fund, its Registrars, Banks and other service providers shall not be liable for, nor be in default by reason of, any failure or delay in completion of its obligation under this facility, where such failure or delay is caused, in whole or in part, by any acts of God, civil war, civil commotion, riots, strike, mutiny, revolution, fire, flood, fog, war, lightening, earthquake, change of Government policies, unavailability of bank's computer system, force majeure events, or any other cause of peril which is beyond their reasonable control and which has the effect of preventing the performance of contract by them.
13) The responsibility of providing correct bank account information in the onetime mandate or any other application form for this facility solely rests with the Unit holder(s) and the AMC / Fund / RTA / Banks / Service Providers will not be responsible or liable for any loss, claims, liability that may arise on account of any incorrect and / or erroneous data / information supplied by the Unit holder(s).
14) It will be the sole responsibility of the unit holder(s)¿ bank and its branch to ensure proper registration of the Mandate and confirm registration. It is expressly clarified that the AMC/RTA/Service providers only act as a unit holder¿s messenger to unit holders¿ bank to register the mandate and will not be responsible for any action or inaction on part of the unit holders¿ bank. By signing the One Time Mandate form, Unit holder(s) and the bank account holders hereby agree to have authorized the AMC/RTA to register the mandate and process any transactions received thereafter.
15) The investor agrees to abide by the terms and conditions of NACH facility of National Payment Corporation of India (NPCI), ECS facility of Reserve Bank of India (RBI) as applicable at the time of investment and as may be modified or amended from time to time.
16) Applicable NAV for the transactions will be dependent upon the time of receipt of the transaction through online mode into RTA server, electronically time-stamped and other factors like scheme, type of transaction, amount of transaction, date and time of realization of clear funds through banking channels, as per detailed provisions mentioned in Scheme Information documents and will be treated on par transactions received through other modes. For the purpose of this Facility, such AMC/RTA offices/Call center/servers would be considered as an Official Point of Acceptance of the transaction.
17) It will be the responsibility of the Unit holder(s) to ensure that the cumulative transactions for the day for the SIP installments and lump sum purchases are within the mandate amount limit. Where multiple transactions, either for SIP installments or lump sum purchases are due for debit for a single day or where multiple investment requests are received through different modes in a single day and if the value of the cumulative debits exceeds the mandate amount, it may happen that some transaction may be rejected by the Unit holder(s) bank. The Bank may charge the Unit holder(s) for any failed transactions and it will have to be borne by the Unit holder(s) and not by the Fund or the AMC. The Fund may endeavor to give preference to the SIP installments and the lump sum purchases may be debited on the following days.
18) The unit holder understand that this Facility is merely a transactional facility offered and that the AMC/RTA will not be liable for (a) acting in good faith on any instructions received from the unit holder (b) error, default, delay or inability of the AMC/RTA to act on all or any of the instruction.
19) The unit holder shall always abide by the aforesaid terms and conditions while availing the facility and hereby undertake not to misuse the same and in the event of any damage shall indemnify the AMC/RTA for any loss arising therefrom.
20) The AMC may amend the above terms and conditions, at any time without prior notice to the unit holders and such amended terms and conditions will thereupon apply to and be binding on the unit holders.
21) Declaration & Signatures:
This section needs to be signed by the applicant(s) / unit holder(s) at the places marked as per the proposed/existing mode of holding (i.e. 'Single', 'anyone or Survivor').