CLIENT CONSENT & TERMS OF SERVICE
What you are agreeing to, before you agree to it.
By subscribing to, accessing, or using any research report or communication, you confirm you have read, understood and agreed to these terms, the SEBI (Research Analysts) Regulations, 2014, and the related circulars — including the Investor Charter, MITC and RA Guidelines issued by SEBI and RAASB from time to time.
Arvind Maruti Desai, Proprietor of Samarth Trade SEBI-registered Research Analyst, Reg. No. INH000028060. Provides research-only services. Does not execute trades, and does not offer portfolio management or investment advisory services.
You Any individual or entity subscribing to or using the research services of Samarth Trade, for personal and non-commercial use.
Nature of services
- a.Services are limited to research reports, model portfolios where provided, market commentary, and educational discussions — based on publicly available information and our technical and fundamental analysis.
- b.All reports are for information and personal use only. You must exercise independent judgement, and may consult your own adviser before acting on any recommendation.
Research report terms
- a.The recommendations provided in a report are based on technical and fundamental analysis of publicly available information we believe to be reliable and accurate at the time of publication.
- b.Unless otherwise stated, our recommendations are intended for a 12-month investment horizon.
- c.All reports, including third-party reports, are carefully reviewed prior to dissemination to ensure accuracy and to avoid misleading statements.
- d.A daily closing chart of securities is available at charting.nseindia.com and charting.bseindia.com.
Regulatory compliance and segregation
- a.The research analyst shall comply with the SEBI (Research Analysts) Regulations, RAASB directions and applicable laws at all times.
- b.Clients cannot simultaneously receive research and distribution services from the same group or family.
At onboarding you must choose one: research services, or distribution services. Not both.
Client information, KYC and FATCA
- a.You agree to provide true, complete and current personal, financial and KYC details, and to update any change in residency, tax status, or politically exposed status within 30 days.
- b.Data may be verified with the KRA and disclosed to competent authorities as required under Indian law and FATCA-related obligations. Misrepresentation may lead to termination of services and regulatory reporting.
Risk disclosure and no guarantee
You acknowledge and agree that:
- a.Investment in securities markets is subject to market, credit, liquidity, operational, regulatory, litigation, cyber and other risks, and may result in partial or total loss of capital. Read all the related documents carefully before investing.
- b.Futures and options, and open positions without stop-loss or targets, carry higher risk. Exiting on a 10–15% loss is strongly advised for risk control.
- c.Past performance does not indicate future results. No returns, accuracy, profits, or loss protection are assured or guaranteed.
- d.No claims, compensation, or recourse exist for losses arising from acting on or relying upon research reports, calls, comments, model portfolios, or group discussions.
Registration granted by SEBI, enlistment with RAASB, and certification from NISM do not guarantee the performance of the intermediary nor assure returns to investors.
Use of research, copyright and confidentiality
- a.Research reports, commentary, recordings and other content are strictly for your personal use, and must not be reproduced, redistributed, forwarded or published without prior written consent.
- b.We maintain client confidentiality and data security in line with applicable laws, and use AI and algorithmic tools only as supplementary inputs — which may carry risks such as model error, data bias and system failure.
Conflicts of interest and disclosures
- a.We endeavour to avoid, disclose and mitigate any actual or potential conflict of interest as per SEBI and RAASB guidelines. Any material conflict affecting services will be promptly intimated to you.
- b.At the time of issuing research, we declare that there is no conflict, financial interest, or compensation from the subject company likely to prejudice the independence of the research — unless specifically disclosed in the report itself.
Service conduct, suspension and termination
- a.All communication is ordinarily through group formats and standardised reports. One-on-one trading or investment services are not provided, and must not be sought.
- b.We may suspend or terminate services, with or without notice, in case of a violation of these terms, a regulatory direction, inaccurate KYC, misuse of content, impersonation, or non-payment beyond the grace period. In such cases, only eligible pro-rata refunds, if any, will be processed as per regulations.
Most Important Terms and Conditions
The MITC apply in full to these research services and form part of this consent. They cover the fee cap of ₹1,51,000 per annum per family, advance fees and pro-rata refunds, permitted payment modes, the prohibition on assured return schemes, and the absence of any guarantee of returns.
Grievance redressal and ODR
For grievances — non-receipt or deficiencies in reports, or service issues — you must first contact Arvind Maruti Desai at samarthtraderesearch@gmail.com or +91 75887 75228. We aim to respond within 7 business days, or within SEBI-prescribed timelines.
If unresolved, escalate to SEBI. Toll-free helplines: 1800 22 7575 / 1800 266 7575. Cyber frauds may be reported to the National Cyber Crime Portal and helpline 1930.
Jurisdiction, governing law and amendments
- a.These terms are governed by the laws of India and by SEBI and RAASB regulations. Courts at Pune, Maharashtra shall have exclusive jurisdiction over any dispute.
- b.We may update these terms to reflect regulatory changes or business requirements. Material changes will be notified via www.samarthtrade.com or by email, and continued use of the services constitutes deemed acceptance of the updated terms.
CLAUSE 13 — CLIENT DECLARATION & CONSENT
By proceeding, you confirm
Subscribing to or continuing to use these research services means each of the following statements is true for you.
- You confirm your Indian residency and tax status as declared, including non-PEP status where applicable, and agree to promptly update any change.
- You confirm having read and understood the SEBI (Research Analysts) Regulations, the Investor Charter, the MITC, the RA Guidelines and these terms of service — including all risk factors and limitations of liability.
- You accept that all investment decisions based on our research are taken at your sole discretion, risk and responsibility, without any assurance, guarantee, or recourse against the research analyst.
Read the full disclosures, disclaimers and other information at www.samarthtrade.com. If any part of this consent is unclear, ask before you subscribe — not after.