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