1) The Referrer will earn an amount equal to the brokerage paid by the Referee in the first 3 months of account opening subject to a maximum of Rs. 1,500/- per client referred.
Example: Ajay (Referrer) has referred his friend Sunil (Referee).
Sunil (Referee) opens an account with MSFL and starts trading. The sum total of brokerage paid by Sunil over the first 3 months since account opening, Subject to maximum of Rs 1500 only, would be credited to Ajay’s (Referrer) ledger.
2) The referral benefit shall be given to the Referrer in the form of ledger credit into his/her trading account.
3) Rewards would be given only if the referee activates his/her account within 30 days of referral given. Account will be considered activated after the 1st trade has been initiated.
4) No referral will be paid on his own account.
5) There is no limit on the number of people you can refer.
6) In case the same referee has been provided by two referrers, the benefit of successful referral will go to the first referrer.
7) The referrer has to be Marwadi Shares and Finance Limited individual category customer.
8) If details of the referred client already exist in Marwadi Shares and Finance Limited database as an existing client or as a lead client, then it will not be considered under this scheme for referral reward and Marwadi Shares and Finance Limited, reserves the right to exclude such accounts for calculation of referral rewards.
9) All the rewards will be credited to the referees account within 45 days after the end of the 3 months since account opening or after the client has incurred a brokerage of Rs. 1,500/- ( whichever is earlier).
10) This offer is effective from 1st January 2022.
11) The mobile number/Aadhar card/PAN card at the time of referring and opening an account should be the same.
12) Referrals of your blood/family relation are not valid and will not be counted for any benefits. Family for this purpose is self, spouse, dependent parents and dependent children.
13) Account opening in equity and commodity, Currency &MF segment will be considered as a single reference. The Referrer confirms of having obtained the consent of the person referred for providing his/her details.
14) In case of any dispute, the decision of Marwadi Shares and Finance Limited management will be final and binding.
15) No other offer can be clubbed with this Referrer program offer during opening the account.
16) In case of any dispute arising out the said contest legal jurisdiction would be at the Registered HO address of Marwadi Shares and Finance Limited in Rajkot.
17) Minor accounts are not eligible for referral offer either as a referee or referrer.
18) The referring person should not undertake any form of selling/advisory activities w.r.t. securities and should not manage the portfolio of any person who is being referred. He/she should strictly limit his/her role to “Referral” only.
19) Incentive amount should not be recovered from the client being referred and no obligation whatsoever should be cast on such client. There should be no financial transaction between the referred client and the referring person under the arrangement.
20) The Referee shall not solicit or endeavor to entice, directly or indirectly any client introduced by him to Marwadi Shares and Finance Limited to obtain services of any competitor of Marwadi Shares and Finance Limited
21) The Referee shall not use any material other than the written material provided by Marwadi Shares and Finance Limited for promotion of Marwadi Shares and Finance Limited products. If realized the offer would stand cancelled and the company will not be liable to pay any referral awards on such cases.
22) The Referee shall not assure any returns or make any presentation to the prospective customers, which is not authorized, approved and provided by Marwadi Shares and Finance Limited.
23) The Referee shall have no authority to prescribe the brokerage rates applicable to the clients and shall have no authority to change the brokerage rates as prescribed by Marwadi Shares and Finance Limited. The Referee shall not make any false promises to the prospective customers with regard to the brokerage and other charges.
24) Marwadi Shares and Finance Limited shall be entitled to terminate the referral benefits forthwith and without any notice or payment in lieu of notice and take necessary legal action against The Referee if found making any misrepresentation to the prospective customers or existing clients.
25) Marwadi Shares and Finance Limited shall be entitled to terminate the reward under the said refer & earn program, forthwith and without any notice or payment in lieu of notice and take necessary legal action against The Referee if found that The Referee has provided false information about himself / herself or has forged and documents pertaining to The Referee himself / herself or any of the clients / prospective customer.
The following activities are expressly prohibited and engaging in any of these will lead to initiation of legal and criminal action against you and also result in immediate termination and disqualification from the Referral Program, forfeiture of existing referral invitations and accrued, but not yet received, referral rewards: (Change figure of speech)
A. Spam, bulk distribution of invitations, distribution to strangers or any other promotion of Marwadi Shares and Finance LIMITED Referral offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, sms, publishing any article or content about Marwadi Shares and Finance LIMITED products, services etc. and will barr the referral benefits on associated accounts.
B. Advertisement* of any kind in any form on any medium print, audio visual form, web etc including social media (Facebook, twitter, WhatsApp, Instagram, YouTube etc.) , or spam under any applicable law or regulation.
C. Selling, trading, bartering or providing anything of value to your Invitee beyond the referral invitation or otherwise using Your Program invitations or Rewards for promotional purposes.
D. Organizing competition, contests online, posting content about Marwadi Shares and Finance Limited. Any act or omission resulting in damage to Marwadi Shares and Finance Limited in any form whatsoever in nature.
E. Advertisement includes all forms of communications like any information about Marwadi Shares and Finance Limited, products, services etc, form of document, pamphlets, circulars, brochures, notice or any research reports or any other literature or information, material published, or designed for use in a newspaper, magazine, SMS or other periodical, radio, television, telephone or tape recording, video tape display, signs or bill boards, motion pictures, telephone directories (other than routine listings) or other public media including any generally accessible websites or emails, whether in print or audio visual form or used in workshop/seminar or public speaking or in any other manner. This also includes social Media including but not limited to Facebook, Twitter, Instagram, YouTube, WhatsApp, etc.
26) Marwadi Shares and Finance Limited reserves the right to carry out checks and controls as it deems fit and proper, before the credit of referral reward to the referrer
27) Marwadi Shares and Finance Limited reserves the rights to withdraw this offer any time before the validity period mentioned.
28) This product “Refer and Earn” is available only for securities transactions executed on NSE, BSE and NCDEX Exchanges.
A. Rewards would be given only if the referee activates his/her account within 30 days of referral given.
B. The referred client shall not be subjected to any kind of trade inducement by the referring person and it shall be ensured that all instructions for placement of orders are obtained from the respective clients only.
