By using Moneyfrog.in (the “Website & Mobile App”) and signing up for the services offered by Moneyfrog Consultants Private Limited ("MONEYFROG"), You acknowledge and confirm that:
✓ You are 18 years of age or older and where you are acting as Guardian on behalf of a minor, you have the necessary authority to register/sign up for the services on behalf of the minor.
✓ You have understood and agreed to abide by the terms of the Investment Services Level Agreement below. This agreement is part of the Investor registration process, which is generated once you confirm your registration. Which is accepted by and shall come inforce with activation of your account
✓ The information you provide when you register on the Website is true and correct.
✓ MONEYFROG may contact you by phone and/or E-mail in connection with your registration & as part of regulatory compliance. All important & requisite communication will be sent to the same.
SERVICE LEVEL AGREEMENT
This is a letter of contract (“letter”) between M/s MoneyFrog Consultants Private Limited ("MONEYFROG") and your good selves for the underlying scope of services that shall be subject to the terms and conditions as mentioned herein. This document has not been approved by any authority and is solely meant for your information. This document is not meant for public distribution and has been furnished solely for your information and may not be reproduced or redistributed for any purpose whatsoever, by any Person, without our express permission.
"MONEYFROG" is an AMFI Registered Mutual Fund Advisor (ARMFA) of mutual funds, with AMFI registration No: ARN-94798 and registered with National Stock Exchange (NSE) NFM II towards limited purpose membership with the Exchange for transacting in mutual funds on NMF II platform, with Unique ID: NSE000005.
"MONEYFROG" has designed & developed its “Website & Mobile App”, to offer/facilitate users to map/track their financial/investment data, usage of various analytical tools towards data analytics & various other features/services. Our tagline "Leap of Abundance" encompasses our vision which is to enhance your wealth by providing independent, high quality financial solutions to individuals. We employ proprietary financial models developed by our in-house team and we strongly believe in the passive investment strategy. Please note that, unless the context or meaning thereof otherwise requires, the following expressions that have been used anywhere in this letter or any document that is provided in relation to this letter, shall have the below meaning:
1. This document is a legal contract between MONEYFROG and User ("Agreement").
2. "Assumptions" mean inputs that are generally accepted and are based on our research and may/may-not obtained from you as part of your inputs
3. "User" means the Person who enters into any Agreement with MONEYFROG or is in any way soliciting the services through this letter from MONEYFROG.
4. "Financial Year" means the year starting from April 1 and ending on March 31 of the following year.
5. “Risk Tolerance” is the degree of variability in investment returns that an individual is willing to withstand.
6. “Plan/recommendation” means; MONEYFROG offers scientifically selected mutual fund schemes using various filters/algorithms, designed by the MONEYFROG team.
SCOPE OF OUR SERVICES
1. User have applied for an Investment Account after understanding the nature and scope of services ("Services") provided by MONEYFROG.
2. The operation of User’s investment account and the execution of Instructions are subject to this Agreement, and the “Offer Documents” of the respective Asset Management Company ("AMC"). User have the right to transact directly with AMC even in respect of the Investment made through MONEYFROG.
3. User identity on the Website/App is authenticated by the use of their Login Credentials. MONEYFROG will consider Instructions authenticated by their Login Credentials to have originated from their end. Further user will keep their login credentials safe and secret and will not divulge it.
4. User Make an informed investment decision by reading the “Offer Documents” of the mutual fund schemes that they are investing in and shall seek independent financial planning, legal, accounting, tax or other professional advice before investing or withdrawing.
5. User are aware of fact that MONEYFROG is an AMFI registered distributor of mutual funds and receives commissions from AMC’s, details of which are available on the website/disclosure.
6. Investment Account of User will be activated after MONEYFROG verifies user’s personal information in accordance with the Know Your Client ("KYC") guidelines issued by the Securities and Exchange Board of India ("SEBI").
7. Mutual Fund online execution services are offered through NSE (National Stock Exchange) NFM-II, mutual funds online execution platform.
a. The online platform facilitates subscription, redemption, Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), Systematic Transfer Plan (STP), Switch and other transactions of mutual fund units.
b. User can transact online through their investment account, login with User ID & password or calling the central office mutual funds desk.
c. Entire process of mutual funds order placement, confirmation, payment or redemption pay-out are governed by the NSE NFM-II terms & conditions, same is available on the website – www.nsenmf.com/Html/MFFAQ.aspx
8. MONEYFROG does not, and is not obliged to, offer all mutual fund schemes for investment. By limiting the number of schemes on the Website, MONEYFROG does not make any representation as to the quality, bona fides or nature of any AMC or mutual fund scheme, or any other representation, warranty or guaranty, express or implied.
9. MONEYFROG reserves the right to store information on a user's computer in the form of a "cookie" or a similar file and the utilization of all or any information derived there from by us.
USER AGREES & ACCEPTS AS FOLLOWS
MONEYFROG dashboard (part of the “Website & Mobile App”) is a proprietary platform, with multiple analytical tools, designed & developed by MONEYFROG. It helps user create an in-depth financial analysis for themselves and their families. Dashboard creates a plan/recommendation by taking user data as input and automatically generating the output. The output can be further customized by the research/advisory team based on the input received by the user. The Plan/recommendation is created basis of inputs such as user’s spending, Income, assets, risk tolerance etc.
The Plan/recommendation; offers scientifically selected mutual fund schemes using various filters/algorithms, designed by the MONEYFROG team.
The Plan/recommendation shall also include explanatory statements and statistics that have gone into the analytics. It shall provide conclusions on possible ways to financially secure yourself & your family. Our advisor shall explain in plain terms, the Plan/recommendation generated and provide clarifications, if required.
In preparing the Plan/recommendation, the proprietary software will rely upon the information provided to, about your existing situation, your objectives and needs. A summary of these will be included in the plan. Thereby, all recommendations and strategies will be based on this data alone and hence is accurate and complete only to the extent of the accuracy and completeness of the data furnished by user.
The aggregate liability in respect of performance of service or otherwise under this agreement shall be limited to the fees paid to us (excluding out of pocket expenses and taxes if any paid) for the services rendered by us regardless of whether the liability is based on breach of contract, strict liability, tort, breach of warranty etc. or otherwise.
PLATFORM FEES & TIMELINE
PLATFORM FEES & TIMELINE Particulars: - At the time of entering online agreement.
Account Handling Fees & Validity: - INR 999/- annual subscription. MONEYFROG holds the rights to change/revise this fees without notice/informing the user.
Refund: - Generally, MONEYFROG fees (including the annual fees for your subscription and any other fees) are non-refundable, except that we will provide a refund to members for their current prepaid period, if User is canceling their subscription and request a refund within 5 days of your initial subscription/purchase.
MUTUAL FUNDS RISK & DISCLOSURE
Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. Please read the SEBI prescribed Combined Risk Disclosure Document prior to investing.
Mutual Funds transactions, as regular plan, will involve commission pay-out from various AMC’s to MONEYFROG, details of same are available on the website/ disclosure.
VIOLATION, DISPUTE & INDEMNITY
In case User violate this agreement, or any local or international laws, MONEYFROG may, at any time and at its sole discretion, terminate Investment Account and/or prevent User from accessing the Website and/or Services at any time and at its sole discretion.
All and any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Mumbai in accordance with the provisions of the Arbitration and Conciliation Act, 1996 for the time being in force at the commencement of the arbitration, which rules are deemed to be incorporated by reference in this clause. The Courts in Mumbai alone shall have jurisdiction over all disputes arising out of or in respect of this arrangement. You consent to the jurisdiction and venue of the courts located in Mumbai, India.
The User, shall at its own expense, indemnify, defend and hold harmless the MONEYFROG and its officers, directors, employees, partners/affiliates against any third party claim, demand, suit, action, or other proceeding brought against the MONEYFROG or its officers, directors, employees, partners/affiliates against all direct damages, awards, settlements, liabilities, losses, costs and expenses related thereto to the extent that such claim suit, action or other proceedings is based on or arises from any proven deficiency in service, by the Service Provider, as per the scope of work or any other proven breach of terms of this Agreement.
COPYRIGHT & TRADEMARKS
All the trademarks, logos and service marks, information and content provided on our web site including its design structure and compilation are privately owned Intellectual Property Rights of either Moneyfrog Consultants Private Limited and or its affiliates, agents, associates, subsidiaries and or otherwise permitted by us advertise on our web site. Unless otherwise noted you shall not copy, download or and print documents from our web site for any commercial purposes and shall not post, distribute, transmit display, publish sell or modify them or remove any copyright trade mark or other proprietary notices. For permission to use third party materials appearing on our web site, please contact the copyright owner.
Also the trademarks, logos and service marks available on our web site is an invaluable assets of MoneyFrog Consultants Private Limited and or its affiliates, agents, associates, subsidiaries and other parties, who have been authorized by us to display the same on our web site. In our endeavor to serve and protect your interests and rights, we would appreciate if you could inform us in writing at firstname.lastname@example.org giving all necessary details of the violation or infringement of our trademarks, logos and service marks which are either protected by us and or available on our web site. The information thus provided by you would be forwarded to our legal advisors for opinion on all or any legal recourse that can or should be adopted by us in order to protect our intellectual Property rights.
GRIVENCE REDRESSAL & FEEDBACK
For any information regarding the various services and products offered by us or for providing any critical feedback or complaint, with regards to our Website/ Mobile App/ Product performance/ Staff response, you can contact:
Phone: +91 22 6741 312
Client servicing team:
MoneyFrog Consultants Pvt. Ltd.
402, Megor Arcade, M. G. Road
Ghatkopar (East), Mumbai – 400077.