Account Opening Requirements
1.
Eligibility: Following parties are eligible to open a BO
Account:
(a)
Any individual of 18 years and above.
(b)
Company, Firm, Trust and Association.
2. Joint Account: Any Two Individuals who are eligible to
open Individual account can open a Joint Account together.
3.
Account opening form must be filled/Completed in Block
Letter only.
4.
Account: According to
the rules of the regulatory bodies an individual can maintain maximum 2
accounts
(1 individual and another joint account)
5.
Required documents:
Individual/Joint Account
a) 2 (two) copies recent passport size photographs (Lab Printed)
of each Accountholder (s) duly Signed
b)
Photocopy of Passport/National ID/Driving License/Bank
Certificate
c)
Photograph of nominee (s) attested by the account holder
(s). If the Nominee (s) is Minor then 1 Copy of Passport Sized photograph of a
Guardian must be submitted along with the Account Opening Form. Note that the
Account Holder Cannot be the Guardian of the Nominee (s).
d)
Bank Statement for last one month
e)
2 Copies of Passport Sized Color photographs (Lab Printed)
of the POA holder (Attested by the account holder)
f)
Photo copy of National ID Card of POA holder (Photo copy of
National ID Card has to attested with the same signature as on the Original Copy)
g) 150/- Stamp must be notarized describing the tasks that POA
holder will be eligible to conduct in PFI Securities Limited on behalf of the
account holder. (For Individual Account
Only)
h) In case of Joint
Account, if POA holder is any third party then 150/- Stamp must be notarized
describing the tasks that POA holder will be eligible to conduct in PFI
Securities Limited on behalf of the account holders
Company Account
A. Photo copy of National ID Card of Managing Director or CEO of
the Company (Photo copy of National ID Card has to attested with the same
signature as on the Original Copy)
B.
Attested Photographs of the Signatories
C. Board Resolution regarding opening of the account with PFI
Securities Limited and A Power of Attorney (POA) holder to operate on behalf of
the Company (Attested by Company Secretary or Authorized Signatory)
D.
Memorandum & Article of Association certified by RJSC
E. 2 Copies of Passport Sized Color photographs (Lab Printed) of
the POA holder (Attested by the account holder)
F.
Photo copy of National ID Card of POA holder (Photo copy of
National ID Card has to attested with the same signature as on the Original
Copy)
G.
TIN (Tax Certificate)
H.
Trade license & Incorporation Certificate
I.
Photocopy of Company Bank certificate
J.
Photocopy of Company Bank statement
NRB Account
i)
2 (two) copies recent passport size photographs (Lab Printed)
of each Accountholder (s) duly Signed
j)
Photocopy of National ID/Driving License/Bank Certificate
k) Photograph of nominee (s) attested by the account holder
(s). If the Nominee (s) is Minor then 1 Copy of Passport Sized photograph of a
Guardian must be submitted along with the Account Opening Form. Note that the
Account Holder Cannot be the Guardian of the Nominee (s).
l)
FC Bank Statement for last one month
m)
FC & NITA Bank Certificate
n)
Job Certificates of the account holder.
o)
City Council certificate/permission copy (In case of
Business Person)
p)
2 Copies of Passport Sized Color photographs (Lab Printed)
of the POA holder (Attested by the account holder)
q)
Photo copy of National ID Card of POA holder (Photo copy of
National ID Card has to attested with the same signature as on the Original
Copy)
r) 150/- Stamp must be notarized describing the tasks that POA
holder will be eligible to conduct in PFI Securities Limited on behalf of the
account holder.
s)
Photocopy of Passport 7 (seven) Pages including Visa Page.
6.
POA Holder:
(a)
Any employee of PFI Securities Limited cannot be appointed
as Power of Attorney (POA) Holder.
7.
Mode of Instruction: All instructions shall be made in writing.
8. Amendment of Rules: PFI Securities Limited reserves the right to amend the present
rules at any time in any manner with or without giving prior notice to the
Accountholder(s) separately or to the public.
PFI Securities Limited Terms and
Conditions.
Article
– 1 General Terms
1-1 The Client has
absolute discretionary power to make investment decisions and may from time to
time instruct the A/R to make such investment(s) for and on its behalf by the
following Means of Communication:
(a) Order slip of PFI Securities Limited signed
by the Client;
(b) Written instruction signed by the Client;
(c) Faxed instruction signed by the Client;
(e) Other evidence of order recorded through
any other electronic devises accepted by the PFI Securities Limited.
1-2 The Means of Communication shall constitute evidence of
orders made by the Client to the AR, which when executed shall be conclusive and binding on the Client.
1-3 All instructions and orders made by the Client over
telephone or any other electronic or electrical devises shall be logged by the AR in its system and
such records shall be conclusive that the instructions have been given by the
Client and the transactions so ordered or instructed shall be binding on the
Client.
1-4 Order by electronic transmission to the AR shall be made at
the risk of the Client and the AR shall under no circumstance be held
responsible for any loss due to non- transmission arising out of any
electronic, electrical or mechanical fault.
1-5 In case of telephonic
and e-mail support, PFISL will only correspond to those number (s) and address
that have been provided in the account opening form.
1-6 In case of
telephonic order client/POA holder has to sign buy/sale order within 24 hrs
after the execution of his trade order
1-7
Margin Agreement has
to be signed properly before availing Loan
1-8 The account holder must
show his/her latest portfolio to AR before placing an order.
1-9 The Client shall be eligible to purchase only the
securities approved by the Management.
1-10 The Management may, at its discretion, from time to time,
add new securities to or remove existing securities from the list of approved
securities.
1-11
The client cannot
sale any instrument until that instrument is saleable / matured.
1-12 The client shall
only be allowed to buy a particular instrument if he/she has purchase power to
buy that instrument
1-13
The Client has to
sign pay in slip and trade confirmation after execution of his given
1-14 The AR upon acceptance of an order shall undertake
necessary steps to execute such orders of the Client. If the Means of
Communication is not satisfactory, the AR shall not be obliged to comply with
such order but revert back to the Client for clarification.
1-15
If the value of an order of the Client exceeds the
purchasing power of the Client, which will be determined by the available cash
and Margin Loan in the account, the AR shall have the discretion either to
reject the order or modify the order by reducing the order quantity and/or
eliminating a specific order.
1-16 The sole responsibility for making investment decisions
shall be on the Client and the AR will
not make any discretionary investment decisions for or on behalf of the Client.
1-17 The AR shall under no
circumstances be responsible or liable for any result whether adverse or
otherwise of the investment decisions of the Client.
1-18
The client acknowledges that the AR neither guarantees any
rate of return or profit from any investment to the Client nor shall be
responsible for any losses caused to the Client due to fluctuations of the
capital market.
1-19
The Client may from time to time appoint or remove any
person as Authorized Person/Power of Attorney holder to act on behalf of the
client.
1-20
Such Authorized Person shall be able to do all acts and
give instructions or orders for all transactions under this Agreement,
including operating the account(s) of the Client and shall be acting for and on
behalf of the Client or described in the power of attorney declaration by the
Client until he/she is removed in the manner stipulated hereunder.
1-21 The AR may act on the instructions of an Authorized Person
until it actually receives written notice from the Client of the removal of
such Authorized Person and may in any event act on any instructions issued by
the Authorized Person before the date of receipt of the written notice of such
removal.
1-22
The Client shall bear the full responsibility of the acts
or omission of its Authorized Person. The AR shall not be held liable for any
irregularities or unauthorized acts committed by the Authorized Person
including and not limited to, unauthorized placing of securities purchase/sale
orders or withdrawal of fund/securities.
Article-2
Fees Charges and Interest
§ Initial Fund:
A minimum of Tk. 500,000/=
(Taka five Hundred Thousand Only) for Cash
and Tk. 1,000,000/= (Taka One
Million only) for Margin account
§
Margin Loan: 100% of the Client’s Equity, i.e., the Debt
to Equity ratio would be 1:1 or Negotiable. However the loan amount should not
exceed Tk. 30 (thirty) million to a single client.
§ Fees, interest and charges shall be payable:
Sl.
|
Particulars
|
Fees/Charges
|
01
|
Documentation Charge (Margin account only)
|
Tk. 1,000/= (Taka one thousand only during the time of account
opening)
|
02
|
Management Fee (to be charged monthly for Margin account only)
|
N/A.
|
03
|
Interest rate on margin loan (to be charged quarterly for
margin account)
|
18% TK
|
04
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Brokerage Commission Cash/Margin
|
0.35% on transaction value
|
05
|
B/O Account Opening Charge
|
Tk. 700/= (Taka seven Hundred only).
|
06
|
CDBL Charge
|
Actual Basis
|
§ Out of Pocket and any third party expenses: Charges of Central Depository are
to be levied according to the charging mechanism set by the Central Depository of
Bangladesh Limited. These expenses include (but not limited to):
a.
Central Depository Fees.
b.
Other extra-ordinary communication costs.
Article – 3 Nominee
3-1 In
the event of death of the Client, the nominee(s) as prescribed by the Client in
the application form shall be the only person(s) recognized by the Management
as being entitled to the assets of the portfolio.
3-2 In case nominee(s) are not mentioned,
the Management shall not be obliged to deal with any person or persons to
accept any right, title or interest of any person unless such person is holding
a valid succession certificate, probate or letter of administration covering
the investment from a court of competent jurisdiction and subject to such
further documents or evidence that the Management may require.
Article – 4 Notice
4-1 Any notice provided for
in this Agreement shall be in writing and shall be first transmitted by
facsimile transmission, and then confirmed by registered mail or courier
service, in the manner as elected by the party giving such notice to the
addresses provided in account opening file.
Article – 5 Physical Shares
5-1 If client wants to take his/her paper share from PFISL then we will only
deliver those shares to the account holder only for transferring the name of
the share.
5-2 Any claim regarding Fraud, forgery or
any related terms must be made within 7 (seven) days from receive of paper
share.
5-3 PFISL will only receive client’s paper
share within 6 (six) months of the delivery of the share from PEISL.
5-4 In case of Paper Share withdrawal,
client has to submit a share withdrawal requisition slip to the share
department of PFISL and his/her share will be delivered in the next working
day. However, share delivery is fully dependable on the ledger balance of the
client. If Ledger balance is negative then the client cannot withdraw his/her
share (for cash account).
5-5 In case of Margin account, if client’s
purchase power is negative then he/she cannot withdraw any share from PFISL. If
client’s purchase power is positive then he/she can withdraw his/her share from
PFISL.
Article – 6 Termination of Agreement
6-1 This Agreement shall
continue in force until terminated by either party giving to the other not less
than 60 (Sixty) Business Days’ notice in writing provided that either
party may upon serving written notice to terminate this Agreement in occurrence
of any one of the following events:
(a) The other party is in breach of any
material terms of this Agreement, which shall not have been remedied within 15
(Fifteen) days after serving of written notice requiring the breach to be
remedied.
(b) The other party shall go into bankruptcy or
liquidation, a resolution is passed for its winding up or a receiver or similar
officer is appointed over any assets of the party.
(c) Occurrence of any other matter that causes
permanent disability for the Manager to carry out the portfolio management
functions.
Article – 07 Governing law and
jurisdiction
Article – 08 Miscellaneous
Applicant
|
Full
Name
|
Signature
with Date
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First Applicant
|
|
|
Second Applicant
|
|
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Third Applicant
(Ltd. Co. Only)
|
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