TERMS AND CONDITIONS GOVERNING

TRANSACTIONS IN EQUITY SYSTEMATIC INVESTMENT PLAN (EQUITY SIP) FACILITY ON

ICICIdirect.com

Following are the specific terms and conditions governing transactions in EQUITY SIP facility by the Client through
ICICI Securities Limited (�I-Sec�). Acceptance of all the Terms and Conditions contained herein are a prerequisite
for transacting in EQUITY SIP facility through I-Sec.
I-Sec is entitled to modify/alter the said Terms and Conditions and such a change shall be displayed on
www.icicidirect.com so as to intimate the modification/alteration to the Client/s. The continued use of the Website by
the Client/s shall be deemed to be an acceptance by the Client/s of the modified/altered Terms and Conditions.
Applicability:
These Terms and Conditions, along with the Client Agreement and the Power of Attorney executed by the Client in
favour of I-Sec form the contract between the Client and I-Sec for availing of the Facility. Nothing contained herein
shall be construed as derogatory to the terms of the Client Agreement and the Power of Attorney executed by the
Client. By availing of the EQUITY SIP facility, the Client acknowledges having read, understood and accepted these
Terms and Conditions.
Terms & Conditions pertaining to transacting in EQUITYSIP Facility:
1. Definitions:
"Facility" shall mean the EQUITY SIP facility offered by I-Sec on www.icicidirect.com whereby the client authorises
I-Sec to place buy transactions in specific securities in predetermined quantities or amounts at periodic intervals over a
fixed period of time.
� EQUITY SIP Request� shall mean clients� instruction(s) under the Facility specifying the different parameters
for placement of EQUITY SIP Orders by I-Sec.
�Frequency� shall mean the time intervals specified by the clients in the EQUITY SIP request placed under this
Facility.
�Minimum Period� shall mean the period specified by I-Sec as the minimum period under the Facility for which the
EQUITY SIP request can be placed.
�Total Period for SIP � shall mean the period commencing from EQUITY SIP start date till the date of completion
of the SIP period as indicated by the client in the EQUITY SIP request.
�EQUITY SIP Order� shall mean buy orders placed by I-Sec as per the instructions of the client under the Facility
during the total period specified by the client in the EQUITY SIP request.
�Minimum Order Value � shall mean the minimum amount specified by I-Sec which the Client can select for the
EQUITY SIP Request under the Facility.
�Order Placement day� shall mean the day on which EQUITY SIP orders will be placed by I-Sec as per the
frequency and other order related parameters selected by the Client.
2. Product Features:
EQUITY SIP is a product offered by I-Sec under which Clients authorize I-Sec to place orders on their behalf in their
account at periodical intervals as per the specifications given by them vide the EQUITY SIP request. Under this
Facility, while registering the EQUITY SIP request, clients have an option of selecting either the Quantity based
EQUITY SIP or Amount based EQUITY SIP subject to the minimum amount specified by I-Sec.
Under the Quantity based EQUITY SIP, clients have to specify the quantity of securities that they wish to buy at each
order placement. Under this option, the order value of the EQUITY SIP is calculated as a product of the last traded
price of the security and the quantity requested. The order value of EQUITY SIP under this option, thus, will vary with
each order placement depending on the price of the security prevailing in the market at the time of placement of the
EQUITY SIP order.
Under the Amount based EQUITY SIP, clients are required to specify the amount, subject to the minimum amount
specified by I-Sec, for which each order should be placed at the time of placement of the EQUITY SIP order. Under
this option, at the time of order placement, the quantity of securities is calculated by dividing the EQUITY SIP amount
with the last traded price of the security. Any fractional quantity will be ignored and order will be placed for the
balance quantity. The quantity of securities bought under this option, thus, will vary with each order placement
depending on the price of the security prevailing at the time of placement of the EQUITY SIP order. The total SIP
order value would always be close to the specified amount but may not be exactly equal to the amount specified in the
EQUITY SIP Request.
Based on the EQUITY SIP requests, I-Sec will place orders for the specified quantity / value in the specified securities
at the specified frequency and for the specified time subject to availability of sufficient funds to meet the contractual
obligations arising out of the order and subject to normal order validations as prevailing in the Cash segment for order
placement.
The Facility is available to clients of I-Sec transacting through www.icicidirect.com and CallNTrade. However, use of
CallNTrade facility by clients is subject to prior online acceptance of the these terms and conditions on
www.icicidirect.com.
The Facility is in addition to the existing products on www.icicidirect.com . Use of the facility by a Client does not bar
the Client from trading in any other products offered on www.icicidirect.com.
A. EQUITY SIP REQUEST PLACEMENT:
The client agrees that the client is required to place an EQUITY SIP request on www.icicidirect.com to avail the
Facility and provide all the necessary details while placing the EQUITY SIP request.
The client agrees that the EQUITY SIP request is an authorization given to I-Sec to place orders in the client�s
account during total period for SIP and I-Sec will not be required to take any further approval from the client prior to
placing the orders as per the frequency specified vide the EQUITY SIP request. The client agrees that EQUITY SIP
orders would not be placed beyond the start date plus the total period selected by the Client.
The Client agrees that Client may set up various EQUITY SIP requests with different frequencies and time period for
same or different securities.
The client agrees that an EQUITY SIP request can be placed for only one security at a time. To place EQUITY SIP
requests for multiple securities, the client will be required to place separate EQUITY SIP request for each security.
The client agrees that I-Sec shall have the discretion to select securities that will be enabled under the Facility and also
the maximum allowable frequency and total period for each EQUITY SIP request in each security. This list of
securities would be provided to the Client, by displaying such list on the website. Such list of securities would be
subject to change by I-Sec from time to time. I-Sec may also at its sole discretion decide to withdraw a particular
security from the list without notice to the clients and without assigning any reasons whatsoever.
The client understands and agrees that the quantity/amount of EQUITY SIP order will depend on the prevailing price of
the security at the time of order placement by I-Sec. The Client agrees that in case of 'Quantity' based EQUITY SIP, the
EQUITY SIP order value may be significantly different from the previous orders as the order value is governed by the
price of the security prevailing in the market at the time of order placement.
B. PLACEMENT AND EXECUTION OF EQUITY SIP ORDER

The Client agrees that only market orders will be placed under the Facility and that EQUITY SIP orders placed under
the Facility will be executed at the available prices for outstanding orders as per the order matching rules of the
exchanges.
The Client agrees that I-Sec is merely its agent for placing orders as per the instructions given by the Client under the
facility. I-Sec does not play any role in the execution of trades after the orders have been placed. Trade execution takes
place at the exchange platform as per the order matching rules of the exchange. The Client agrees that there is a
possibility that orders may be executed only partially or may not be executed at all; as is the case with normal cash
transactions also.
The Client agrees that if the Order placement day, as per the selected frequency, is a trading holiday, the EQUITY SIP
order will be placed by I-Sec on the subsequent trading date only and in case of Daily frequency the orders will be
placed only on trading days and no orders would be placed for trading holidays.
The Client understands and agrees that by using the Facility, the Client is not entering into a contract or arrangement
with I-Sec whereby I-Sec advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio
manager or otherwise), the management or administration of a portfolio of securities bought by the Client under the
Facility or the funds of the client. The Client agrees that orders placed by I-Sec under this Facility will be strictly as per
the order instructions given by the client vide the EQUITY SIP request. The client agrees that I-Sec reserves the right
to decide the timing for placing the orders on the Order placement day as per the frequency under the Facility.
The Client agrees that I-Sec will be entitled to place orders under this Facility only if sufficient funds are available in
the Client�s Account on the order placement date. In case of �Amount based EQUITY SIP�, the order value will
be close to the amount specified by the client in the EQUITY SIP request, while in case of �Quantity based EQUITY
SIP�, the order value will be an amount determined at market rate for the quantity indicated by the Client. The client
agrees that in case the free Limits in the client�s account is not sufficient, I-Sec is authorized to allocate additional
amount from the clear balance in the linked bank account of the client as maybe necessary for placing the order.
The Client agrees that if sufficient funds are not available for allocation from the clear balance to execute entire
quantity of EQUITY SIP order, the entire EQUITY SIP order shall stand failed/rejected i.e orders would be placed for
full quantity if sufficient funds are available else full order quantity will stand cancelled. This would be the case
followed for both Quantity as well as Amount based EQUITY SIP orders.
The Client agrees that I-Sec shall not be responsible for non execution / rejection of the EQUITY SIP orders from the
Exchange end under uncertain market conditions, or if trading is halted in a security due to any action on account of
unusual trading activity or security hitting circuit filters or for any other reason. The Client agrees that I-Sec reserves
the right not to place EQUITY SIP orders on such days.
The Client agrees that EQUITY SIP order(s) would be placed only once on the order placement day and if such order is
not executed at the market price till the end of the day, then the EQUITY SIP order would expire.
The Client understands that this does not affect the placement of subsequent EQUITY SIP orders of the client as per the
frequency and time period selected by client.
The Client further agrees that the Client cannot modify / cancel / change/ refresh details of an EQUITY SIP order after
the placement of the order in accordance with the EQUITY SIP request of the Client.
The client agrees that client may cancel the EQUITY SIP request selected by him at anytime before the order
placement has been initiated by I-Sec on the Order placement date but not later than such time.
Upon cancellation of an EQUITY SIP request, the authorisation given by the client to I-Sec under the EQUITY SIP
request will be rescinded and no further orders will be placed by I-Sec there after for the cancelled EQUITY SIP
request.
The client agrees that I-Sec may in its discretion, in accordance with its risk management policy, disable buy option in
certain securities as part of its risk management policy. Further, certain scrips may be disabled from trading by
Exchanges on account of corporate action such as stock split, issue of bonus shares, merger and the like. . The Client
understands and agrees that in the above cases, if the scrip is disabled then the EQUITY SIP order in such securities
may not be placed or get rejected by I-Sec during period when the scrip is disabled. Subsequent EQUITY SIP order for
the said security will be placed by I-Sec only when the security is enabled for trading on www.icicidirect.com.
The client agrees that in case it is observed that EQUITY SIP order of the client may not be placed for an uncertain /
long period due to the disablement of the security, I-Sec may cancel the EQUITY SIP request of the client under
intimation to the client.
The client agrees that I-Sec will not be liable for compensation of any kind for non placement / rejection of the
EQUITY SIP orders in the above cases or for reasons beyond its control.
I-Sec, at its sole discretion, reserves the right to either temporarily or permanently, withdraw or suspend the Facility at
any time without giving any notice or assigning any reason for the same, whether in respect of one or more Clients. In
case of a temporary withdrawal, the privileges may be reinstated by I-Sec at its sole discretion.
The Client agrees that the facility is offered on an electronic platform based on satellite/leased line based
communications, combination of technologies and computer systems to place and route orders. Thus, there exists a
possibility of communication failure or system problems or slow or delayed response from system or trading halt, or
any such other problem/glitch whereby not being able to establish access to the trading system/network, which may be
beyond control and may result in delay in processing or not processing EQUITY SIP orders either in part or in full.
The Client agrees not to hold I-Sec liable for any loss or damage incurred or suffered by it due to any delay, error,
defect, failure or interruption in the provision of Facility arising from or caused by any reason whatsoever.
The Client agrees that the Frequently Asked Questions (FAQs) for the EQUITY SIP Facility, as posted on the site, are
an integral part of this Terms and Conditions. The client acknowledges as having read and the understood these FAQs.