Terms & Conditions
Definitions: In this document, the following words and phrases have the meaning set opposite them unless the context indicates otherwise:
NSDL: means National Securities Depository Limited, a company incorporated under the Companies Act, 1956 and registered under the Depositories Act, 1996 with Securities and Exchange Board of India.
Database:means Database of information pertaining to corporate bonds/debentures.
Internet:refers to a Global network of inter connected Computers network, each using Transmission Control Protocol / Internet Protocol or any combination thereof or such other standard network inter connection protocols as is used to transmit data that is directly or indirectly delivered to a Computer.
User:means an entity accessing database information
Proprietary Rights: The User acknowledges that the software underlying database is the legal property of NSDL. The permission given by NSDL to access database will not convey any proprietary or ownership rights in the above software. The User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying database or create any derivative product based on that software.
- The User agrees to commit the password/PIN to memory and not record it in any form including written or electronic.
- The User agrees to keep the password/PIN confidential and to not reveal the same to any third party.
- The User agrees they shall be responsible for privacy of the password.
- The User agrees that they shall not let any unauthorised person to have access to computers or leave them unattended while accessing database.
Change of Terms and Conditions: NSDL has absolute discretion to amend or supplement any of the terms and conditions at any time and will endeavor to give prior notice of fifteen days wherever feasible for such changes. NSDL may introduce new services within database from time to time. The existence and availability of the new services will be notified to the Users as and when they become available. The changed terms and conditions applicable to the new features in database shall be communicated to the Users. By using these new services, the User agrees to be bound by the revised terms and conditions as may be applicable. The availability / non-availability of a particular service shall be advised either through email, web page of NSDL or written communication.
Liability: NSDL shall not be liable to the User for any transactions executed based on the information of database and the User hereby fully indemnifies and holds NSDL harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. NSDL shall under no circumstance be liable to the User if the access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure or any other reason beyond the control of NSDL. Under no circumstance shall NSDL be liable for damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective whether any claim is based on loss of revenue, interruption of business, or any loss of any character or nature and whether sustained by the user or any other person. Illegal or improper use of database system of NSDL shall render the User liable for payment of financial charges as decided by NSDL and may result in suspension of the access to database system.
Governing Laws: These terms and conditions and / or the use of the services provided through database shall be governed by the laws of the Republic of India and no other nation. The User agrees to submit to the exclusive jurisdiction of the Courts located in Mumbai, India as regards any claims or matters arising under these terms and conditions. Any dispute or difference arising between the User shall be settled by mutual consultation / discussion, failing which the same shall be referred to arbitration. The Arbitration proceedings shall be governed and conducted in accordance with the Indian Arbitration and Conciliation Act, 1996 and that the Arbitration proceedings shall take place in Mumbai. NSDL accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India. The mere fact that the database can be accessed through Internet by a User in a country other than India shall not be interpreted to imply that the laws of the said country govern these terms and conditions.