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All orders entered by Client, either electronically or otherwise, are based upon their investment decisions & their sole responsibility. Client will not hold, nor seek to hold, KarachiStocks.com. or any of its officers, directors, employees, agents, subsidiaries or affiliates, liable for any trading losses or other losses incurred by Client. Client agrees that entering an order with KarachiStocks.com., including market orders, either electronically or otherwise, does not guarantee execution of the order. KarachiStocks.com. shall not be deemed to have received any order electronically transmitted by Client until it has confirmed the receipt of such order. 2. Order Execution: Client agrees that KarachiStocks.com. acts as its agent to complete all such transactions and is authorized to make advances and expend monies as required. Though orders are usually routed through the marketplace within seconds, certain orders, at KarachiStocks.com's sole discretion, may be subject to manual review and entry, which may cause delays in the processing of their orders. Client also understand that with respect to market order, Client will receive the price at which their order was actually executed in the marketplace, which may be different from the price at which the security is traded when their order is entered into our system. 3. Purchase of Securities: To process orders to purchase securities, It is necessary that their account contain buying power before the execution of securities. Any order inadvertently accepted and executed without sufficient buying power will be subject to cancellation or liquidation at KarachiStocks.com.'s discretion. However, Client is responsible for all of their orders, including any orders, which exceed available limit in their account. If limits are not available in the account and an order is processed, Client should credit his account via wire or personal cheque, cashier's cheque or money order or account transfer or any other mode, promptly to assure that such payment will be received and processed on or prior to settlement date or intimated date, whichever is earlier. If payment is not received by settlement date or intimated date, whichever is earlier, their position may be squared off, without prior notification. In the event their account is liquidated; Client will be liable for any resulting losses and all associated costs incurred by KarachiStocks.com.. 4. Sales of Securities -- In Cash Product: To process orders to sell securities, It is necessary that their account contain sufficient Free Securities Balance in the Security Demat Account with KarachiStocks.com. prior to the acceptance of a sell order or the physical shares in the custody of KarachiStocks.com.. Proceeds of the sale cannot be paid to Client until securities have been delivered to the Exchange/clearing house & pay out is received from the Exchange/Clearing House. The proceeds of all sales will be credited to their account directly on settlement date. If the securities are not received on or before settlement date or securities received are not in deliverable state or due to any other reason whatsoever, client is not able to deliver securities, the securities will be Auctioned or closed out as per the rules of the concerned Exchange. Consequently, Client will be responsible for any resulting losses and all associated costs including penalty levied by the Exchange. 5. Confirmations, Statements, Notices And Other Communications: We shall send Client electronically the Contract Note/Trade Confirmation of the trades executed on their behalf on the trade date. Client understands that it is their responsibility to review, upon first receipt, whether delivered to Client by mail, by e-mail, or other electronic means, all confirmations, statements, notices and other communications, including but not limited to, margin, maintenance calls, and prospectuses. All information contained therein shall be binding upon Client, if Client do not object, either in writing or via electronic mail, within Twenty Four hours after any such document is sent to Client. In all cases, KS reserves the right to determine the validity of their objection to the transaction. Notices and other communications may also be provided to Client verbally. Client agrees that KarachiStocks.com. fulfills its legal obligation to deliver to Client any such document if sent via electronic delivery. Documents sent by electronic delivery will contain all the information as it appears in the printed hardcopy version as prepared and distributed by the originator, with the possible exception of graphic insertions such as photographs or logotypes. Electronic delivery may be in the form of an email, an electronic mail attachment, or in the form of an available download from the web site. Client represents that Client will download the relevant document promptly after receiving notice of its availability. Should Client experience any difficulty opening a document electronically delivered by Karachistocks.com, Client will promptly advise Karachistocks.com, in order to allow us to make the required delivery by other means. Failure to advise Karachistocks.com, of such difficulty within Forty eight hours after delivery shall serve as an affirmation that Client were able to receive and open said document. 6. Sales of Securities: Short Sales Before executing any sale order Client should either have security in their Security Account with KarachiStocks.com. or funds in their Bank account equal to or greater than margin money. KarachiStocks.com. generally requires that Free Stock Balance in the Security Demat Account prior to the acceptance of a sell order. Any order accepted without free stock balance in the account would be deemed a short sale. Short Sales can be settled by squaring off the trade within same trade cycle. Client agree and understand that if Client do not put order to square off the position by the stipulated time before the close of market hours on the last day of the trading cycle, we have all rights to square off the position on the same day or on any later date. Any such sales or purchases may be made at any time at KarachiStocks.com.'s discretion on any exchange or other market where such business is usually transacted, or at public auction or private sale, or KarachiStocks.com. may be the purchaser/seller for KarachiStocks.com.'s own account. Client is responsible for any losses or expenses incurred by us as a result of their failure to make such delivery/Square off the trade 7. Margin Requirements: Client agree that Client will maintain such securities and other property in their account as collateral as required by all applicable statutes, rules, regulations, procedures or as we deem necessary or advisable. Client agrees to promptly satisfy all margin and maintenance calls. 8. Call for Additional Collateral and Liquidation: If it is considered necessary for our own protection, we may require Client to immediately deposit cash or collateral into their account prior to any applicable settlement date in order to assure due performance of their open contractual commitments. If Client does not provide the additional collateral, Client hereby understands and acknowledges that we have the right to sell any or all securities and other property in their account, buy any or all securities and other property which may be short in their account, cancel any or all open orders and/or close any or all outstanding contracts. In addition, Client understands and agrees that we may exercise any or all of the above rights without demand for additional collateral, or notice of sale or purchase, or other notice or advertisement. Any such sales or purchases may be made at any time at our discretion on any exchange or other market where such business is usually transacted, or at public auction or private sale, or we may be the purchaser/seller for our own account. It is understood that our giving of any prior demand or call or prior notice of the time and place of such sale or purchase shall not be considered as a waiver of our legal right to sell or buy without any such demand, call or notice. 9. Auto Square Off: Client agrees that KarachiStocks.com. would have the discretion to square off the position of Client in following circumstances: In case of Margin Trades, if the open position is neither squared off nor converted to Delivery by client within the stipulated time. In case of Margin Trades, where Mark to Market Loss on the open position has reached the stipulated % of the margins placed with us and the Client has not taken any steps either to replenish the margin or reduce the Mark to Market Loss. In all other cases where the margin or security placed by the client falls short of the requirement or where the limits given to the client has been breached or where the client has defaulted on his existing obligation. 10. Password: The Client must: Keep the Client-Id and password totally confidential and not reveal the password to any third party. Choose a password that shall be atleast 6 characters long and shall consist of a mix of alphabets and numbers which must not relate to any readily accessible personal data such as the Client's name, address, telephone number, driver license etc, or easily deduced combination of letters and numbers. Commit the Client-Id and password to memory and not record them in written or electronic form, and Not let any unauthorized person have access to his computer unattended whilst accessing Karachistocks.com,. 11. Termination of Service: The Client may request for termination of the facility any time by giving a written notice of at least 15 days. The Client will remain responsible for any transactions made on his account(s) KS prior to the time of such cancellation of the Service. The facility may be withdrawn anytime by us provided the Client is given reasonable notice under the circumstances. If the Client withdraws the service for a reason other than the breach of the terms and conditions, our liability shall be restricted to the return of the annual charges, if any recovered from the Client for the period in question. The closure of all accounts of the Client will automatically terminate the KarachiStocks.com.. We may suspend or terminate trading facilities without prior notice if the Client has breached these terms and conditions or we learn of the death, bankruptcy or lack of legal capacity of the Client. .
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