Bullsmart Refer&Earn Terms & Condition (Mutual Fund)
If the below stated points are met, and till such time Skywards continues to carry on this Referral Incentive Scheme which would be read along with the laws, regulations, rules prescribed by SEBI and the other respective Authorities for Mutual Fund -
- If a referred client registers Bullsmart APP using the referral code obtained from his/her inviter and completes his/her qualified investment within 30 days of registration, it would be recognized as a "Completed Referral".
- An act of being referred would include: the invitee inputs the referral code obtained from inviter on the referral page of Bullsmart APP and registers successfully.
- Bullsmart Refer & Earn (Mutual Fund) function is available for all Bullsmart users who have opened account.
- If your friend has a position of more than ₹1000 in his/her account for 7 consecutive days (and above) within 30 days from the date of registration, you will be eligible to get 15000 reward points (worth Rs 150).
- Bullsmart Regular users can earn up to 7.5 Lakh Bonus Points (worth Rs. 7500) in the Refer & Earn Program and Bullsmart Verified users can earn up to 15 Lakh Bonus Points (worth Rs. 15000) in the Refer & Earn Program , and can be used to redeem coupons and virtual gifts in Points Mall. Thereafter, there shall be no further rewards for any friends you refer.
- The offer is valid from November 27, 2023 till it lasts.
- Mapping will only be considered to the introducer/referrer having a prospect sign up and register initially. If the client is already registered, this account will not be mapped to the invitee.
- Individual clients cannot refer another non-individual account (eg. HUF, Corporate, Partnership/LLP, Trust) with the same contact details as their own account.
- Referred clients from one Client ID are not transferable to another Client ID in any way possible.
You agree that the following activities are expressly prohibited and engaging in any of these will lead to initiation of legal and criminal action against you and also result in immediate termination and disqualification from Bullsmart Refer&Earn Program, forfeiture of existing referral invitations and accrued, but not yet received, referral rewards:
1. Spam, bulk distribution of invitations, distribution to strangers or any other promotion of Bullsmart Referral offer through invitations without cooperation with Bullsmart that would constitute or appear to constitute unsolicited commercial e-mail, sms, publishing any article or content about upstox products, services etc.
2. Advertisement of any kind in any form on any medium print,audio visual form, web etc including social media (facebook, twitter, whatsapp, instagram, youtube etc) without cooperation with Bullsmart, or spam under any applicable law or regulation.
3. Fraud, attempted fraud or abuse of the Bullsmart Refer&Earn or these Terms & Conditions.
4. Selling, trading, bartering or providing anything of value to your Invitee beyond the referral invitation or otherwise using Your Program invitations or Rewards for promotional purposes.
5. Advertisement includes all forms of communications like any information about Bullsmart products, services etc, form of document, pamphlets, circulars, brochures, notice or any research reports or any other literature or information, material published, or designed for use in a newspaper, magazine, SMS or other periodical, radio, television, telephone or tape recording, video tape display, signs or billboards, motion pictures, telephone directories (other than routine listings) or other public media including any generally accessible websites or emails, whether in print or audio visual form or used in workshop/seminar or public speaking or in any other manner. This also includes social Media including but not limited to Facebook, Twitter, Instagram, YouTube, WhatsApp, etc.
- All payouts made to such clients under this Referral Incentive Scheme shall be post Tax Deducted at Source (TDS) or as per Applicable Income-tax Law.
- The company reserve the right to withdraw the offer as per its discretion. Any dispute arising out of referral schemes shall not be covered under grievance mechanism of Exchange.
- Any additional payments with respect to GST or any other such taxes, even if any such person is eligible for the same, will not be made over and above the amount eligible to be withdrawn as per the rewards shown on the referral page.
All clients requesting for withdrawal of any incentive payouts must abide by, declare, and agree to all clauses stated below. In case of any misrepresentation or any incorrect declaration is provided, such clients shall indemnify Skywards for any such damages, direct or consequential, with respect to any violations of Circulars, Rules & Regulations, Bye-Laws of any AMFI or any such Applicable Law in India:
- I/We, having an account with Skywards Investec Private Limited (hereinafter referred to as “Skywards”) hereby agree to and declare the below points with respect to accepting any payment/incentives from Skywards, with respect to any referral bonus or marketing fee or incentives from Skywards:
- I/We am/are not forbidden to do any business under the Rules, Bye-Laws and Regulations of AMFI or anu other authority as defined by SEBI/Authority;
- I/We have read and understood all the scheme with respect to the “Byelaws” of AMFI, “incentives/referral schemes” rules, and rules with respect to marketing and incentives. I/We understand that by receiving referral incentives from Skywards, I/We and Skywards are both bound by the rules of the AMFI.
- I/We are accepting this incentive from Skywards only for the referral of new clients/persons, and have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with Skywards, providing stock tips, managing portfolios etc
- I/We have not, since being eligible to receive any payment/payout from Skywards, entered into any contracts or published any marketing material/advertisement acting as Skywards or act as a referral agent of Skywards without the explicit written permission of Skywards. I/We understand that publishing any marketing or advertisement material requires permission/intimation towards the Authority. I/We will not & have not publish/’ed any marketing material without the explicit permission of Skywards;
- I/We have/will not post the affiliate link of my referral code on public forums without any context, and spam any such groups/platforms/pages on social media;
- I/We hereby declare that, since being eligible to receive any incentives from Skywards, I/We are not an employee/Affiliation/Sub broker of a ARN Holder (apart from Skywards) of AMFI; and
- I/We are not an employee of Skywards or any associate/group entity of Skywards, and I/We are not a relative of an employee of Skywards.
- I/We hereby declare that the above information are true and correct, and if any information is found to be false and incorrect, Skywards will have the right to recover the entire amount received by me/us through whatever means Skywards deems necessary.
- I/We agree to indemnify Skywards and its Directors/agents/employees for any damages/claims that may arise from me/us deviating from the Rules/Bye-Laws of the SEBI/Authority, and any terms, conditions, Policies & Procedures of Skywards.
- I/We hereby understand this Referral Incentive Scheme, along with these terms & conditions with respect to all incentives from Skywards may be changed from time to time by Skywards, at the sole discretion of Skywards; or by any changes directed by the SEBI/Authority or any such regulator/quasi judicial authority. Therefore, at all times, I/We shall abide by the change in such Policies and Procedures of Skywards & Authority without any objections in the future.
- I/We hereby understand that Skywards's management reserves all rights to withhold any such incentives / this Referral Incentive Scheme to any such referrer, at its sole discretion, for any reason whatsoever.
- If a client is not in compliance with Sec 206 AB & 206 CCA Income Tax Act 1961, or if the PAN & Aadhar have not been linked/furnished to the satisfaction of Skywards, TDS will be applied at the rate of xx%. For NRI clients TDS is at the rate of xx%
- Clients who close and reopen their accounts, with the specific intention of being mapped to a specific introducer/referrer, will not be considered as a referral/ Completed Referral under this Referral Incentive Scheme.
- If a client closes his/her account, referral amounts shall stop being accrued/accumulated after such closer of account. All clients must request and complete all such withdrawal of pending/accrued referral rewards before requesting for any account closure process.
- Skywards reserves the right to periodically audit the source for generating such leads/referrals of all clients. Failure to fulfill any audit requirements or showcase such responses to any queries from Skywards, may result in the termination of all past/future benefits under this Referral Incentive Scheme.
- Referral incentives cannot be transferred to another account, and will not be considered even if the same client closes and reopens his/her account with Skywards, or even if it is converted from an individual/resident to a Non-individual / NRE/NRO account.
- Using affiliate referral links as paid or sponsored advertisements on any social media channels/websites/searches are strictly prohibited, and leads generated by any client from such means shall be terminated under this Referral Incentive Scheme.
- No referral incentives shall be provided for referral of any minor accounts.
- Any pending action to be completed by clients to receive their referral incentives under this Referral Incentive Scheme (such as responding to any queries of Skywards or completing KYC/showcasing income proof to reactivate their account etc.) shall be completed within the prescribed time line.