11. Cancellation of the Mandate: Unit holder(s) will have to submit the OTM - NACH
Update/ Cancellation form by ticking on the provision in the form “CANCEL” and
providing all details on the mandate, duly signed by all the Unit holder(s) and the
bank account holder(s) and submit it to TAML/RTA. Request on any other forms
or paper will be not be accepted or processed and will be rejected. In case of
cancellation, future instalments of all SIPs registered under the said mandate will
also stand to be ceased. Unit holders are requested to send mandate cancellation
request at least 15 days in advance duly signed. Any debit towards purchase
or SIP instalments during the intervening period may be processed and Unit
holder(s) account would be debited. The unit holders’ agree that the cancellation/
termination/ withdrawal request is an authority to TAML/Registrar to instruct
the debit bank on discontinuation of onetime mandate and Customer will not
hold Bank responsible for any Standing Instruction cancellation based on TAML
instruction.
12. Expiry of the Mandate: The mandate will expire on 31st December 2099. As a
result of the expiry of the mandate, future instalments after expiry date of all SIPs
registered under the said mandate may also automatically cease.
13. TAML reserve the right to reject any application without assigning any reason
thereof.
14. The investor thereby declares that the particulars in one time mandate and any
subsequent transactions provided will be correct and complete.
15. Please refer the SID, SAI and Key information Memorandum, all Instructions,
Addenda issued from time to time and available on Fund’s website towards
Applicable NAV, Risk Factors, Loads and all other information related to various
requirements of the respective Scheme/ Plan before investing. It is deemed
that the investor has agreed to all the terms and conditions of the scheme, as
prevailing on the date of the application and investment.
16. Unit holder(s) hereby confirms, acknowledges and undertakes to make payments
for subscription of units from their respective bank account(s) only in compliance
with applicable provisions relating restriction on third party payments as detailed
in the SID/SAI and that the payment will be through legitimate sources only.
17. The Mutual Fund, its Registrars, Banks and other service providers shall not be
liable for, nor be in default by reason of, any failure or delay in completion of
its obligation under this facility, where such failure or delay is caused, in whole
or in part, by any acts of God, civil war, civil commotion, riots, strike, mutiny,
resolution, fire, flood, fog, war, lightening, earthquake, change of Government
policies, unavailability of bank’s computer system, force majeure events, or any
other cause of peril which is beyond their reasonable control and which has the
effect of preventing the performance of contract by them.
C.II. Mandate Registration Related
1. Banks and the branches which are available for the facility of onetime mandate
registration may change from time to time. Please note that the list of banks and
branches may be modified/updated/changed/removed at any time in future at the
sole discretion of TAML without assigning any reason or prior notice. Some banks
and branches may levy charges (in whatsoever manner) for mandate registration
and /or transactions to their bank account holders, which will be borne by the
account holder only and will not be borne by TAML or the Fund.
2. The onetime mandate form signed by the Unit holder(s) and the account holder(s)
will be lodged by TAML /RTA at its discretion, depending on the availability of
the facility with different banks either under NACH (Debits)/ECS (Debit)/ NECS/
RECS or where TAML may have a specific Direct Debit tie-up with the bank. Unit
holder(s) agree to have authorized TAML or its representatives to register the
mandate under any of the available facility of NACH (Debits) / ECS (Debit)/ NECS
/ RECS/ Direct Debits/ Standing instructions. The mandates would be lodged by
TAML /RTA within a period of ten to thirty days based on NACH or ECS processing
timelines, without any responsibility on the part of TAML.
3. The responsibility of providing correct bank account information the onetime
mandate or any other application form for this facility solely rests with the Unit
holder(s) and TAML / Fund/ RTA/ Banks/ Service Providers will not be responsible
or liable for any loss, claims, liability that may arise on account of any incorrect
and / or erroneous data/ information supplies by the Unit holder(s).
4. Unit holder(s) need to provide along with the mandate form an original cancelled
cheque (or a copy) with name and account number pre-printed of the bank account
to be registered or bank account verification letter for registration of the mandate
failing which registration may not be accepted. The Unit holder(s) cheque/bank
account details are subject to third party verification.
5. In case of folios where the mode of holding is ‘Joint’, the mandate has to be
signed by all the joint account holders and it would be expressly understood that
the signatories to the mandate have granted an express instruction to TAML /RTA
to treat the mode of holding to ‘Anyone or Survivor’ for availing this facility only
specifically through SMS or any other mode as may be offered by TAML, so that
these facilities can be availed by any of the joint Holders.
In case of unit holder(s) other than the individuals, it is expressly understood
that the signatories to the mandates are authorized and empowered to do so and
transact using the said facility.
The Fund/TAML/RTA would purely act based on the valid mandate as well as
transactions submitted, and all the Unit holder(s) would be bound by all the terms
and conditions and would not hold the Fund/ TAML /RTA for any loss or potential
loss, in whatsoever manner.
6. It will be the sole responsibility of the unit holder(s)’ bank and its branch to
ensure proper registration of the Mandate and confirm registration. It is expressly
clarified that TAML /RTA/Service providers only act as a unit holder’s messenger
to unit holders’ bank to register the mandate and will not be responsible for
any action or inaction on part of the unit holders’ bank. By signing the onetime
mandate form, Unit holder(s) and the bank account holders hereby agree to the
authorized TAML/RTA to register the mandate and process any transactions
received thereafter.
7. If no confirmation of registration or rejection is received from unit holders’ bank,
TAML /RTA/it’s agents will deem the mandate to be as registered. The Fund
will endeavor to inform the Unit holder(s) through email/SMS for cases where
confirmation on successful registration/ rejection of the mandate is received from
the Unit holder(s) bank.
8. The Unit holder(s) agree that the Fund/ TAML /RTA and their agents shall not
be held liable for any unsuccessful registration and or transaction due to any
action or inaction of the Unit holder(s) bank including but not limited to reasons
mentioned below and agree to indemnify the Fund/ TAML /RTA for all liabilities,
losses, damages and expenses which they may consequent sustain or incur either
directly or indirectly:
a. Loss of the mandate forms in transit from point of acceptance of the form
to RTA head office and further to the Unit holder(s)’ bank branch;
b. Non-acceptance or rejection of the mandate for whatsoever reason by the
Unit holder(s)’ bank branch, with or without any reason assigned by the Unit
holder(s) bank;
c. Non-registration of the Debit Mandate by the Unit holder(s)’ bank and
branch;
d. Deemed registration due to non-confirmation of registration or rejection by
the bank and any subsequent rejection of debit of bank account for funds;
e. Non availability of funds in the bank account of the Unit holder(s) at the
time of debit;
f. Rejection of registration or transaction debit for any reason or without
assigning any reason whatsoever.
g. Signatories to the mandates or transaction debit for any reason or without
assigning any reason whatsoever.
h. Any late registration of the onetime mandate with the bank for whatsoever
reason or rejection of lump sum purchases or SIP registration or instalments
with or without any reason, and will not be liable for any transactions not
processed or reversed or rejected or any late debits to the bank account, till
the mandate registration is successful.
9. The Investor agrees to abide by the terms and conditions of NACH facility of
National Payment Corporation of India (NPCI), ECS facility of Reserve Bank of India
(RBI) as applicable at the time of investment and as may be modified or amended
from time to time.
C.III. Transaction Related
1. Unit holder(s) of the Fund can start investing using this Facility only after
successful registration of the onetime mandate with their bankers and receipt of
confirmation letter/SMS/email from TAML.
2. Unitholder/s or Investors can make additional purchases; start new SIPs in any of
the schemes of Tata Mutual Fund using this facility and through physical forms or
any facility added in future.
3. Where multiple mandates with different bank account numbers are registered
in a folio, the Unit holders(s) will have to specify the bank account from which
the debit towards lump sum purchases, SIP registration should happen. In the
absence of any such instruction, default mandate would be used for debiting
towards lump sum purchases, new SIP registration subject to the mandate amount
being sufficient to process such transactions.
4. The Unit holder(s) hereby agrees and confirms that the Fund is authorized to
rely on any instruction received or purported to have been received from the
Unit holder(s) through physical mode or through any other facility, as offered/
introduced by Fund/ TAML from time to time and such instructions shall be
conclusive and binding on the Unit holder(s).
5. Applicable NAV for the transactions will be dependent upon the time of receipt
of the transaction through physical mode into TAML or RTA offices or server,
electronically time-stamped and other factors like scheme, type of transaction,
amount of transaction, date and time of realization of clear fund through banking
channels, as per detailed provisions mentioned in Scheme Information documents
and will be treated on par transactions received through other modes. For the
purpose of this Facility, such TAML/RTA offices/servers would be considered as
an Official Point of Acceptance of the transaction.
6. It may happen that some transaction may be rejected by the Unit holder(s) bank.
The Bank may charge the Unit holder(s) for any failed transactions and it will have
to be borne by the Unit holder(s) and not by the Fund or TAML. The Fund may
endeavor to give preference to the SIP instalments and the lump sum purchases
may be debited on the following days.
7. The bank account of the customer may be debited towards purchases either on the
same day of due date or within one to seven business days depending on NACH/
ECS settlement cycles. TAML/ RTA shall attempt to settle the transaction and debit
the bank account by requesting the registered bank for release of funds generally
within a period of one to seven banking working days. The investor undertakes
to keep sufficient funds in their bank accounts till the date of debit. However, in
case of non-receipt of the funds, for whatsoever reasons, the transaction shall
stand cancelled/null and void and the units allotted, if any would be reversed. If
the date of debit to the investor’s account happens to be a non Business Day as
per the Mutual Fund, execution of the ECS Debit/ Direct Debit / SI may happen
on non business day however the allotment of Units will happen as per the terms
and conditions listed in the SID, SAI, KIM and all relevant Addenda of the scheme
concerned.
8. The Unit holder(s) shall check their bank account records carefully and promptly.
The Unit holder(s) will promptly inform the Fund in case of any erroneous or
unauthorized transaction/s being processed, any erroneous debits. The Unit
holder(s) should inform the Fund for such discrepancy within a period of ten days.
Failing which it will be deemed that there is no any discrepancy in the transactions
which were processed.
9. If the transaction is delayed or not effected at all for reason of incomplete or
incorrect information or due to any reason by the investor’s banker, the investor
would not hold the Mutual Fund or the Bank responsible.
10. For the purpose of lump sum purchases, SIP instalments, the investor and/or bank
account holders authorizes TAML, its registrars, bankers, correspondent bankers
and service providers, to raise a debit on the mentioned account with the bank
branch. The investor and/or bank account holders hereby authorizes the bank to
honor all such requests received through TAML, its registrars, bankers and service
providers to debit their Account with the amount requested, for due remittance
of the proceeds to TAML as per the mandate. The investor/s or the bank account
holders shall not dispute or challenge any valid debit, raised under this facility, on
any ground whatsoever. Investors will not have any claim against TAML, service
providers, bankers, correspondent bankers and other service providers jointly and
or severally indemnified, from time to time, against all claims, actions suits, for
any loss, damage, costs, charges and expenses incurred by them, by reason of
their acting upon the instructions issued by the named authorized signatories/
beneficiaries.
Investors agree that TAML may discontinue OTM facility as well as any SIP
registrations for any investor/ folio entirely at its discretion and advice banks for
cancellation of Standing Instruction in case one or more debits are rejected and
funds not received for any reason.
The unit holder shall always abide by the aforesaid terms and conditions while
availing the facility and hereby undertake not to misuse the same and in the event
of any damage shall indemnify TAML/RTA for any loss arising there from.
TAML may amend the above terms and conditions, at any time without prior notice
to the unit holders and such amended terms and conditions will there upon apply
to and will be binding on the unit holders.
OTM Plus SIP