Central Bank of India Agreement Form Download

The key points from the Central Bank of India Annexure C form (Agreement Between a Participant and a Person Seeking to Open a Beneficial Owner’s Account under CDSL) are structured below:

• Regulatory Compliance: Both parties must strictly follow the Depositories Act 1996, SEBI Regulations 1996, CDSL Bye Laws, and CDSL Operating Instructions.
• Indian Governing Law: The legal agreement is explicitly governed by and construed under the laws in force within India.

• Fee Revisions: The Participant can alter fees by giving at least one month’s written notice to the Beneficial Owner (BO).
• Late Payment Interest: Defaulted payments attract an interest charge not exceeding 18% per annum.
• Instruction Freeze: Continued payment defaults after a two-day notice grant the Participant the legal right to stop processing all account instructions.

• Frequency Rules: Statements are issued monthly if a transaction occurs, and at least once per quarter regardless of activity.
• Electronic Option: Electronic statements are secured via digital signatures under the Information Technology Act, 2000.
• Physical Rights: The BO can demand a physical statement copy at any time, even if they have opted for electronic delivery.

• BO Particulars: The Participant holds no liability for financial losses caused by the BO’s failure to notify them of changes to account details.
• CDSL Indemnity: CDSL is not liable for third-party claims, government taxes, duties, or penalties levied on securities in the BO’s account.
• Corporate Entities: Corporate BOs must provide a signed list of authorized representatives simultaneously upon signing.

• Termination Timeline: Either party can end the agreement by providing a minimum 30-day prior written notice.
• Stamp Duty Cost: The BO is entirely responsible for paying all initial stamp duties, interest, or associated penalties.
• Force Majeure: Neither party is liable for delivery delays caused by acts of God, war, strikes, or utility failures.
• Dispute Resolution: All conflicts or differences arising between the parties will be handled via CDSL arbitration and conciliation rules.

If you are finalizing this agreement, let me know:

• Are you registering as an individual or on behalf of a corporate body?
• Do you need to request shorter intervals for your account statements?
• Would you prefer to receive statements in physical or electronic mode?

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