INDUS: TERMS AND CONDITIONS
Last Updated: 30 September 2024
Welcome!
Our General Terms and Conditions govern your use of any product or service we provide, including our websites, mobile app, and social media channels, outlining both your responsibilities and our obligations to you. At Indus, we are committed to providing a seamless and secure investment experience, so it’s important that these terms ensure clarity and transparency in how we operate. By using our services, you agree to comply with these terms, which are designed to protect your interests as well as maintain the integrity of our platform. We may update these terms as we continue to evolve, so we encourage you to review them regularly to stay informed of any changes.
1. About these General Terms
- By accessing or using our Services, you agree to the following:
- These General Terms and Conditions (General Terms) are applicable between you (the user of our Services and any entity you are authorised to represent, as approved by us) and Indus Limited (Indus, we, or us);
- We collect and use your information in accordance with our Privacy Policy;
- Please review the Terms carefully and reach out to us if you need any clarification.
- Capitalized terms used in these General Terms are defined in the Dictionary at the end of this document.
- Third parties may set additional rules that both you and we must adhere to. You agree to comply with these rules, which we will communicate to you through the Services. Additionally, third-party products available on our Platform may have their own terms and conditions, which you will need to accept (where applicable) in order to access or use those products.
- We collaborate with various partners, referred to as our Support Team, to provide our Services. The parties that make up our Support Team may change at any time without prior notice to you.
2. Service Availability
- Except as explicitly outlined in the Terms, we do not make specific guarantees about the Services. We put significant effort into delivering high-quality Services and commit to performing them with reasonable care and skill, in line with our legal obligations. However, we cannot assure that the Services will always be fully secure, uninterrupted, free of errors, or without bugs. Our Services are provided on an "as is" basis, meaning there may be occasions when they are limited or unavailable, and we cannot promise that they will always meet your expectations or function as scheduled.
- We may temporarily suspend your access to, or use of, all or part of our Services if we believe it is reasonably necessary, including in the following situations:
- For technical, legal, or regulatory reasons (such as when required by SEBI or other regulators);
- During emergencies or periods of unusually high trading activity;
- If we deem it appropriate to protect our customers or Indus;
- To ensure other services remain accessible to you or our other customers;
- If our systems, or those of our Support Team or third-party providers, are unavailable or malfunctioning;
- For the maintenance or upgrading of our systems.
- We may occasionally request that you install updates or upgrades to continue using our Services.
- We are not liable to you (or anyone else) for any consequences arising from your inability to access the Services or from the Services being unavailable at any time.
3. Information we make available
We don't provide advice or recommendations
- None of the information we provide constitutes investment, financial, legal, or tax advice or recommendations, and we are not responsible for any use of the information in that context. Any information we offer, including Market Information (as defined below), should not be relied upon for decision-making purposes.
- If you are uncertain about an investment or its tax implications, or if you're determining whether an investment aligns with your financial objectives, tax situation, or needs, it is advisable to seek independent legal, financial, taxation, or other professional advice.
- Any third-party links provided through our Services are not under Indus' control. We are not responsible for, and do not make any representations, warranties, or guarantees regarding, the accuracy or completeness of the information found on these linked sites. The links are provided solely for your convenience and do not indicate endorsement, affiliation, or verification by Indus.
Market Information
- We may provide, curate, and create general investment and wealth development information or tools through our Services or Website, including definitions of investment terminology, pricing data, market news, returns, performance metrics, calculation tools, and other investor resources. This content, along with any other information made available to you through our Services (including from our Support Team), is collectively referred to as Market Information.
- We either own or license the Market Information, or it is publicly available. Market Information is intended for your personal use only and should not be shared, copied, or reproduced. Some Market Information may be subject to additional terms that you must agree to before accessing it. Any returns or data displayed may be estimates and are typically calculated based on the share price or exchange rate available at the time.
- We do not guarantee continuous or uninterrupted access to Market Information. It may be modified or discontinued at any time without prior notice.
- We do not guarantee that Market Information will be accurate, complete, reliable, or timely, nor do we make any other warranties or assurances regarding the Market Information. We are not liable for any losses resulting from the unavailability, delays, inaccuracies, errors, or incompleteness of Market Information or any information derived from it.
4. Your Responsibilities
- When using our Services, you agree to comply with Applicable Law (as well as any relevant laws and regulations in other jurisdictions, such as India), the Terms, and any reasonable instructions we provide.
- You must not use our Services to engage in or support any illegal activities.
- You must not attempt to introduce viruses, malware, or any other harmful code into the Services or any third-party systems accessible through the Services.
- You are responsible for all activities conducted through your Account, as well as your access to and use of the Services.
- You are responsible for taking reasonable steps to keep your Account secure and prevent fraudulent use, including:
- Regularly updating your password and avoiding recording or sharing it (or any other login credentials) with others;
- Ensuring no one observes you entering your login credentials;
- Not leaving your device unattended while signed in;
- Keeping your electronic devices secure.
- You must provide us with a valid email address, keep your contact details up to date in your Account, and notify us immediately of any changes.
- You must notify us immediately if you become aware of, or suspect:
- Your login credentials have been compromised or are known to someone else;
- There has been any unauthorised access to or use of your Account.
- Your Account is for your use only and must not be accessed by anyone else, unless we have agreed otherwise in writing.
- You agree that we may treat instructions received through your Account as valid instructions from you.
- If you notice any errors in your Account or instructions, you must notify us immediately and take all reasonable steps to minimise any potential loss to yourself or others. You agree to reimburse us for any loss we incur (such as a cancellation fee, levy, or other costs) due to an error in your instructions or any mistake caused by you.
5. Liability
Your rights under consumer law
- If you are considered a "consumer" under the Consumer Guarantees Act 1993, nothing in our terms will restrict any rights or remedies you are entitled to under the Act.
Your responsibilities when using our Services and what we're responsible for
- You agree that:
- If you owe us any money, you are responsible for repaying the full amount.
- You will take responsibility for, and indemnify, us, along with our directors, officers, employees, agents, Support Team, and third-party providers, and hold us harmless for any direct losses we incur or for any claims made against us as a result of your breach of these Terms or failure to comply with Applicable Law. Indemnity means you promise to compensate someone for any loss they’ve experienced. This indemnity will not apply if the direct loss is proven to be caused by our breach of Applicable Law, negligence, fraud, or wilful misconduct, or a failure to meet our obligations to you under the Terms.
- You accept that:
- We are only responsible for your personal direct loss if that loss is directly caused by our: Breach of Applicable Law; negligence; fraud and/or wilful default or breach of our obligations to you under the Terms.
- We are not liable to you or anyone else for any matters related to our Services, regardless of whether it arises from a breach of contract, tort, misrepresentation, or any other cause.
- We are not responsible for anything beyond our reasonable control, or the control of our directors, officers, employees, agents, Support Team, or third-party providers.
- We exclude liability (whether direct or indirect) for any loss of profits, revenue, business opportunities, goodwill, or anticipated savings, as well as for any loss or damage that is not foreseeable, or for any indirect, special, or consequential loss or damage.
- If we are liable to you, our total responsibility, whether due to breach of contract, tort, misrepresentation, or any other cause, is limited to the amount equal to the total fees you have paid to us for your Account in the last 12 months, for any single event or series of related events.
- The exclusions and limitations outlined in these Terms apply to us, as well as our directors, agents, employees, Support Team, and third-party providers, for their actions and omissions.
- You agree to take reasonable measures to prevent or reduce any Loss you may suffer or incur as a result of any breach or default on our part.
6. Intellectual Property Rights
- You agree not to misuse our Services or violate our Intellectual Property Rights.
- We own or license the Intellectual Property Rights related to our Services, brand, technology, and all associated materials. Other than for your personal use and enjoyment of the Services in accordance with the Terms, you do not hold any rights or interests in these Intellectual Property Rights.
- If you provide feedback on our Services, we may use it freely without any limitations or fees.
- You must not reverse engineer, copy, modify, or create derivative works of our Services, or any part of them. Additionally, you must not use robots, scrapers, or any other unauthorised automated or manual methods to access our Services or information.
7. Confidentiality
When using our Services, we may both share or come across each other’s confidential information. We both agree to take reasonable measures to protect this confidential information and prevent unauthorised access. Either party may disclose the other’s confidential information to legal or regulatory authorities if legally required to do so.
8. Changes
- You can view the most up-to-date version of the Terms on our Website. The date of the latest update is indicated at the top of these General Terms.
- We may modify the Terms, adjust our Services, or increase fees periodically by providing you with reasonable notice (typically 14 days for significant changes). If you do not wish to accept any changes, you must discontinue using the affected Services and close your Account before the changes take effect. If you continue to use the Services after the changes (including any fee increases) take effect, you will be deemed to have accepted the modifications.
- We may implement certain changes immediately, without prior notice to you, in the following situations:
- When we determine that the change is unlikely to have a significant negative impact on you or your use of the Services (such as introducing a new feature, resolving a bug, or lowering fees);
- If a change is required due to a threat (or perceived threat) to our security or systems, or for legal, regulatory, or compliance reasons (such as cybersecurity updates, legitimate requests from authorised agencies, or responding to your breach of the Terms, Applicable Law, or any other relevant laws or regulations in any jurisdiction).
9. Communication and contacting us
How we'll contact you
- You acknowledge that the Services we provide are paperless, and that we will communicate with you electronically (such as via email, text message, direct message through our Platform, displaying a general notice within the Platform, posting updates on our Website, or through any other reasonable method we choose). We may send you factual updates and information related to companies, investments, or other products relevant to your Account. Additionally, when information requires a signature, we may use electronic signatures, and you consent to our use of electronic signatures for this purpose.
How you can contact us
- You can get in touch with us through the following channels:
Email: [email protected]
App: You can send us a message by logging into the Indus app and clicking the chat bubble at the top of your screen. Click on 'Still Stuck?'' to chat to one of our team members.
10. How to make a complaint
- If you wish to file a complaint, please notify us immediately. We will carefully review your complaint and provide a final response within 40 Trading Days.
Escalating your complaint
- If we are unable to resolve your complaint to your satisfaction, or if it remains unresolved within 40 Trading Days of receiving it, you can also escalate your complaint free of charge to an external independent dispute resolution service, operated by Fairway Resolution Limited. You can contact them at:
Level 8, 95 Customhouse Quay, Wellington Central, Wellington 6011, New Zealand
0800 77 44 22; or
11. Transferring rights and obligations under the Terms
- We may appoint any individual or business to advise on or carry out any of our functions or responsibilities under the Terms. We also reserve the right to transfer any of our rights and obligations under the Terms, in whole or in part, to anyone we determine, at our sole discretion, to meet the appropriate criteria. Any member of Indus Limited is entitled to enforce these Terms.
- You are not permitted to transfer your rights or obligations under the Terms (such as access to your Account or our Services) without our prior written consent, which we are not obligated to provide.
12. Goodbye: Closing accounts
You can close your Account at any time
- You may request to close your Account by providing notice through our Service. Please be aware that:
- If you have pending income from any Investments held within our Services (such as dividends), you may need to wait until these funds are transferred to your Wallet before closing the Account—feel free to contact us to discuss this.
- If any of your Investments within our Services are subject to a trading halt or restriction, you may not be able to close your Account until the Investment is either sold, or forfeited to Indus (subject to our approval).
We can close your Account on 14 days' notice
- We may close your Account by providing 14 days’ written notice for any reason.
We can close or suspend your Account immediately in some circumstances
- Without limiting our other rights or remedies, we may close or suspend your Account immediately upon providing written notice if:
- You fail to make payment within 7 days of receiving a written notice to do so;
- You breach any of our Terms that are irreparable, or if the breach is repairable, you do not remedy it within 7 days of receiving written notice;
- You are declared bankrupt, undergo liquidation, or face any similar financial insolvency process, or are otherwise unable to meet your debts as they become due;
- You deceive or mislead us;
- We have reasonable grounds to believe you have breached or are likely to breach Applicable Law or any relevant laws and regulations in another country;
- We suspect your Account security has been compromised or there has been or is likely to be unauthorised, fraudulent, or illegal use of your Account (such as money laundering or financial crime);
- We believe we are legally obligated to do so;
- A regulator or a member of our Support Team requests that we close or suspend your Account;
- You fail to provide requested information or no longer meet our eligibility criteria for holding an Account;
- You are, or become, a Prescribed Person;
- If we close or suspend your Account for any of the reasons listed in the first six bullet points above, you will be responsible for covering any costs and expenses related to the closure or suspension. We are not liable for any loss you may experience as a result. Additionally, we may suspend or close any future Accounts you create.
What happens when your Account is closed?
- Whether you close your Account or we do, the following will apply:
- You agree to pay any outstanding amounts you owe us, even after your Account is closed.
- We will not refund any applicable fees or charges that were incurred.
- Please refer to our Privacy Policy for details on how your personal information is handled after your Account is closed.
13. Details and Dictionary
General details about the Terms
- If there are special terms specific to a customer, account, product, or service that conflict with these Terms, the special terms will take precedence.
- If any part of the Terms conflicts with Applicable Law, the Applicable Law will take priority, and other terms may be implied by law.
- If any part of the Terms is found to be invalid, that part will be removed or minimally modified, while the rest of the Terms will remain in effect.
- Your obligations under the Terms remain in place even if we don’t immediately enforce them. If we delay, waive, or choose not to enforce our rights, it doesn’t mean those rights are forfeited. A one-time waiver doesn’t mean we are obligated to continue waiving.
- Your obligations to us under the Terms continue even if your account is suspended or closed, until all obligations have been fulfilled.
- These Terms are governed by New Zealand law, and any disputes will be subject to the exclusive jurisdiction of the New Zealand Courts.
Dictionary
- 7.Whenever the terms "for example", "includes", or "including" are used in the Terms, they are considered to be followed by the phrase "without limitation".
- Certain capitalised words in the Terms carry specific meanings.
Term | Definition |
---|---|
Account | your account with us allows you to access our services and includes your Wallet, Portfolio, and any other account you open with us as part of our services. |
Applicable Law | all relevant and applicable laws and regulations in New Zealand, as well as any applicable Exchange Rules in India. |
Exchange | a regulated marketplace available through our services where financial products are traded. |
Exchange Rules | The regulations governing each Exchange. |
Intellectual Property Rights | includes patents, invention rights, copyright and related rights, moral rights, trademarks, business names, domain names, rights in trade dress, goodwill, the right to sue for passing off or unfair competition, design rights, database rights, and rights to use and protect confidential information (including know-how and trade secrets). This applies to all intellectual property rights, whether registered or unregistered, and includes all applications, renewals, extensions, and rights to claim priority. It also covers similar or equivalent rights or protections, existing or future, worldwide. |
Investment | a financial product, such as a Mutual Fund, issued by an Investment Provider and made available for you to buy, hold, or sell on your behalf through our Platform. |
Investment Provider | the entity that issues or offers an Investment. |
Platform | The investment products or services we provide, including our Indus web application, Indus mobile application, social media channels, and communications with customers. |
Loss | any claims, demands, actions, losses, liabilities, damages, fines, charges, taxes, expenses, fees, or costs (including reasonable legal fees), regardless of how they are described. |
Mutual Funds | a financial product that is an unlisted Indian mutual fund issued by an Investment Provider, not publicly listed on an exchange, and made available for you to buy, sell, or hold through our Platform. A Mutual Fund is a type of investment vehicle that pools money from multiple investors to collectively invest in a diversified portfolio of assets, such as stocks, bonds, or other securities and managed by professional fund managers. |
Portfolio | at any given time, where you can view the various Investments (if any) and Services linked to your Account. |
Prescribed Person | Individuals who are subject to specific regulations, restrictions, or reporting requirements due to their association with a company, financial institution, or market participant. |
Services | any product or service we offer or provide. |
Social Media | any official social media presence operated by Indus. |
Support Team | a third party that assists us in delivering our services to you, or whose investments, market information, or other data or services are included or relied upon to support our offerings. Additional terms specific to certain services may outline the members of the Support Team most relevant to those services. |
Trading Day | for Mutual Funds: within the normal trading hours of the Investment Provider of that Mutual Fund, on a day when the Investment Provider is open for trading. |
Wallet | the cash balance (which may be positive or negative) for the Indian Rupees (INR) held in your Account. |
Website | the Indus website available at Indus.NZ or any other website operated and maintained by us to provide the Services. |