Toll Free: 0800-20002
1.1. In using the NBP Fund Management Limited Formerly; NBP Fullerton Asset Management Limited (NAFA) Mobile App you must read and agree to the following terms and conditions. Please note that this app is owned and maintained by NBP Fund Management Limited.
1.2. The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements:
1.2.1. “User”, “Investor”, “Customer”, “You” and “Your” refers to you, the person accessing this App and accepting the Company’s terms and conditions;
1.2.2. “NBP Funds”, the “Company”, “Ourselves”, “We” and “Us”, refers to NBP Fund Management Limited;
1.2.3. “Party”, “Parties”, or “Us”, refers to both the User and ourselves, or either the User or ourselves. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to the same.
1.2.4. “MSP”, refers to Mobile Phone Service Provider.
2.1. This app is owned and maintained by NBP Fund Management Limited, which is authorized and regulated by the Securities and Exchange Commission of Pakistan.
2.2. These Terms and Conditions may be varied at any time by NBP Funds without notice. Your continued use of our mobile app denotes your acceptance of any new or varied Terms and Conditions.
2.3. All reasonable care has been taken to ensure that the information contained within the app is accurate, current, complete, fit for its intended purpose and compliant with the relevant Pakistan legislation and regulations as at the date of issue. However, errors or omissions may occur due to circumstances beyond our control and no warranty is given or representation made regarding the accuracy or completeness of the information provided.
3. AVAILABILITY OF NBP Funds MOBILE APP
3.1. The Company does not warrant that the service from this app will be uninterrupted, timely or error free, although it is provided to the best of its ability.
3.2. Addition/Withdrawal of any Feature
3.2.1. The Company reserves the right to introduce additional features with or without giving any notice to the Investors.
3.2.2. The Company reserves the right to send messages to the registered Mobile phones regarding its products, services or any related matter, without the express consent of the Customer.
3.2.3. The Company may, at its discretion, withdraw temporarily or permanently any Feature within the Mobile App, at any time.
3.2.4. The Company may, without prior notice, suspend temporarily any Feature at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the temporary suspension of the Feature.
3.2.5. The Company reserves the right to introduce additional services with or without giving any notice to the customer. The Company reserves the right to send messages to the registered Mobile phones regarding its products, services or any related matter, without the express consent of the customer.
4. USING THE FEATURES
4.1. The Customer is duly bound to acquaint himself/herself with the detailed process for using the features of NBP Funds Mobile App and NBP Funds is not responsible for any error / omissions by the Customer.
4.2. The Company is not bound to acknowledge the receipt of any query instructions, nor shall the Company be held responsible to verify any Instructions. The Company shall endeavor to provide Instructions on a best effort basis and wherever operationally possible for the Company.
4.3. The Customer is solely responsible for intimating NBP Funds by calling the call center from his/her Registered phone number for any change in his mobile phone number subscribed for NBP Funds Mobile App and the Company will not be liable for sending Alerts or other information over the Customer’s mobile phone number in any way, whatsoever.
4.4. The Customer must keep the SIM card and his/her Mobile phone in secure / safe custody at all times. The Customer shall be solely responsible for the consequences in case the customer fails to adhere to the above and / or in case of any unauthorized use of his/her mobile phone or SIM card.
5. INDEPENDENT MOBILE PHONE SERVICE PROVIDER
5.1. The User assumes full responsibility for the security and confidentiality of his/her Mobile Phone (the physical possession of it), mobile phone number (Mobile SIM Card) and any OTP/IVR Code to be used in relation to activation and usage of NBP Funds Mobile App by him/her at all times.
5.2. The User assumes full responsibility to inform the mobile phone service provider to block the SIM card or terminate the Mobile Phone Number in case of loss or theft of the mobile phone to avoid any misuse of NBP Funds Mobile App by non-authorized person.
5.3. In case of User’s mobile phone lying unattended, the customer undertakes to lock it prior to leaving it unattended. In the event of not locking it, NBP Funds is not liable for any breach of confidentiality of any data/information sent to the User’s mobile phone. The User acknowledges that he/she is solely responsible for protecting his/her mobile phone/device.
5.4. The User shall inform the Company immediately on surrendering / discontinuing use of the MSP’s mobile connection. The customer alone is responsible for ensuring continuation of the Facility on his MSP’s mobile connection if he/she fails to inform NBP Funds on time by calling NBP Funds Call Center at 0800-20002.
5.5. The Company shall not be concerned with and will not be held liable for any dispute that may arise between the Customer and the MSP and makes no representation or gives no warranty with respect to the quality of the service provided by the MSP or guarantee for timely delivery / execution / contents of each Alert and/or messages/transactions.
6.1. User must secure the Software/Application and the Security Codes installed in your Mobile Phone with a password where applicable. All such passwords and the Security Codes must be kept strictly confidential and must not be disclosed to anyone else. For security reasons, it is the best practice to keep changing your password after some time.
6.2. User must not leave his/her Mobile Phone unattended or permit any person access to his/her Mobile Phone in such a manner that he may access his/her Software, Security Codes or the NBP Funds Mobile App, whether with or without his/her consent.
6.3. In the event that User loses or replaces or parts with possession or control of his/her Mobile Phone in which the Software and/or Security Codes are installed, or he/she has reason to believe that someone has accessed his/her NBP Funds account(s) using the Software or Security Codes, he/she must immediately notify and instruct NBP Funds to revoke the NBP Funds Mobile App services immediately.
7. CONFIRMATION OF TRANSACTIONS
7.1. We shall not print or issue any advice or confirmation for any transaction conducted via NBP Funds Mobile App although any such transaction will be recorded in the monthly statement issued by us. A transaction is completed instantaneously if done before the cut-off time mentioned within the Mobile App, where applicable. If it is done after the cut-off time, it will be completed as a transaction at next business day. The transaction details, account balances and other information as shown in your telecommunications equipment are for reference only.
8.1. The Company or its employee will not be liable for:
8.1.1. any unauthorized use of the Investor’s Username, Password or IVR Code; or
8.1.2. mobile phone number/ instrument or unauthorized access to SMS or e-mails received at his notified mobile number and email address for any fraudulent, duplicate or erroneous instructions given by use of the same;
8.1.3. acting in good faith on any instructions received by the Company;
8.1.4. error, default, delay or inability of the Company to act on all or any of the instructions;
8.1.5. loss of any information/ instructions/Alerts in Transmission;
8.1.6. unauthorized access by any other person to any information/instructions given by the User.
8.1.7. any interruption, malfunction, downtime or other failure of the NBP Funds Mobile App / communication system, our banking system, third party system, databases or any component part thereof for whatever reason
8.1.8. any delay by the Company due to reasons beyond its control in onward transmission of the funds to the utility company(ies) /Mobile Network company(ies) which may result in disruption of the utility service and Mobile Recharge related transactions or any other registered beneficiary as set by the customer.
8.1.9. any erroneous payments to utility company(ies)/ Mobile Network company(ies) or any other 3rd party beneficiary as set by the customer, arising out of wrong input of account/consumer/card number by the customer.
8.2. The Company shall not be concerned with and will not be held liable for any dispute that may arise between the User and the Mobile Network Operator and makes no representation or gives no warranty with respect to the quality of the service provided by the Mobile Network Operator or guarantee for timely delivery of the contents of each Alert. The Company shall not be held liable for any disruption or failure of providing mobile telecommunication services by Mobile Network Operator.
8.3. The Company excludes all liability for damages arising out of or in connection with your use of this app. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised this Company of the possibility of such potential loss), damage caused to your device, device software, systems and programs and the data thereon or any other direct or indirect, consequential and incidental damages.
8.4. The Company may refuse to process any instruction without assigning any reason.
9.1. I undertake that the safe keeping of the User ID, password, IVR code and Mobile Phone shall be my sole responsibility and agree to keep the Company indemnified and harmless against any and all liabilities, losses, claims, damages, costs or expenses which the Company or I, may incur or suffer as a result of the unauthorized use, misuse or loss of the User ID, password, IVR code or Mobile Phone by me.
9.2. I undertake that I will be solely responsible for the accuracy & authenticity of the payment instructions and NBP Funds will not carry out any independent verification.
10. INVESTMENT RISK WARNINGS
10.1. All investments in mutual funds are subject to market risks. Past performance is not necessarily indicative of future results. Please read the Offering Document to understand the investment policies and the risks involved and latest monthly fund manager report available on NBP Funds website.
11. COPYRIGHT NOTICE
11.1. Copyright and other relevant intellectual property rights exist on all text relating to the Company’s services and the full content of this app.
12. E-TRANSACTION (Electronic Transaction Facility)
Unless the context requires otherwise all words, terms or expressions used in these Terms and Conditions and not defined herein, shall have the same meanings assigned to them in the Offering Documents and the Trust Deeds of the Funds. The headings are inserted only for convenience and shall not affect its construction. Where appropriate, words denoting a singular number only shall include the plural and vice versa and words referring to a gender shall, where the context requires, include the other gender.
12.1.1. The Facility:
i. In pursuance of the powers conferred on NBP Fund Management Limited (“NBP Funds”) under the Trust Deed and the Offering Documents pertaining to each existing open ended mutual fund and such other funds as may be launched from time to time, by NBP Funds in the future (“Funds”), NBP Funds is offering individual investors in each of its Funds an electronic transaction facility.
ii. The electronic transaction facility (“E-Transaction Facility”) provides for the disinvestment of units (“Units”) of the Funds by a holder of Units (“Unit Holder”) and also the conversion of Units of one Fund to Units of another Fund by a Unit Holder (“E-Transactions”).
iii. The E-Transaction Facility enables a Unit Holder to submit E-Transactions using a web based online account (“Web Account”). The Web Account is password protected and existing Unit Holders with Web Accounts will continue to use their existing passwords. New users of Web Accounts will be sent their user ID and password by courier to their address given in: (i) their account opening forms; or (ii) Registration Forms (as defined below); or (iii) the Special Instruction Form (Form07) (“SIF”), in the event a Unit Holder further changes his address after registering for the E-Transactions (collectively “NBP Funds Records”). After registering for the E-Transaction Facility, if there is an inconsistency between the address of the Unit Holder as set out in the Account Opening Form and the Registration Form, then the address as set out in the Registration Form will be deemed to be the address of a Unit Holder in NBP Funds Records, to which all communications to a Unit Holder shall be sent by NBP Funds relating to the E-Transaction facility. A Unit Holder can change his/her address at any time by submitting a duly completed & SIF to NBP Funds and the SIF can be downloaded by the Unit Holder from the NBP Funds website, www.nbpfunds.com (“Website”).
12.1.2. Payment Options upon Redemption:
i. Payment to Unit Holders against the redemption of Units by them (“Redemption Payment”) by means of a E-Transaction shall be settled in the bank account (“Account”) designated by the Unit Holder and appearing as such in NBP Funds Records. A Unit Holder can change his Account details at any time by submitting a duly completed SIF to NBP Funds and the SIF can be downloaded by the Unit Holder from the Website.
ii. Redemption Payments can also be made by means of a Demand Draft (“DD”) or cheque. The DD or cheque will be couriered to the address of the Unit Holder as appearing in NBP Funds Records.
iii. Third (3rd) Party bank account details submitted by a Unit holder shall not be entertained by NBP Funds for the purposes of making a Redemption Payment.
12.1.3. Eligibility for the E-Transaction Facility: clause 12.1.3 (ii)
i. The E-Transaction Facility will not be available to those Unit Holders who have not provided their Account details.
ii. Unit Holders can only avail the E-Transaction Facility in accordance with these Terms and Conditions, However, NBP Funds reserves the right, at its sole discretion, to refuse to permit a Unit Holder from using the E-Transaction Facility and neither NBP Funds nor the Central Depository Company of Pakistan Limited/ MCB Financial Services Limited. (in its capacity of Trustee of the Funds) (“Trustee”), shall be liable to a Unit Holder for such refusal.
iii. NBP Funds reserves the right, in its sole discretion, to withdraw any or all the Funds from the E-Transaction Facility with prior notice published on its web site without assigning any reason for such withdrawal of Fund or suspension of E-Transactions (as the case may be). NBP Funds also reserves the right, at all times, in its sole discretion, to withdraw the E-Transaction Facility in its entirety.
iv. NBP Funds reserves the right in its sole discretion to block any E-Transaction(s) effected by Unit Holders or any one of them, at any time, without giving prior notice to the Unit Holder(s) or assigning any reason therefor.
v. The E-Transaction Facility will not be available in those cases where dual signatures are required for lodging any redemption request of Units.
vi. The E-Transaction Facility is only available to individual Unit Holders and shall not be available to corporate Unit Holders.
vii. Unit Holders holding Unit certificates will not be able to use the E-transaction Facility.
viii. In case, any part of a Unit holder’s investment is evidenced in Certificate from then such Unit holder will not be able to use the E-Transaction Facility to the extent of such Units as are held in Certificate form.
ix. The Unit Holder has an option to convert the Units, held in Certificate form, to Units in electronic form by contacting NBP Funds. This will enable the investor to utilize the E-Transaction facility for his entire holdings in the Funds.
x. No E-Transaction Facility will be entertained on days when the transfer books relating to the Funds are closed (“Book Closure”) days. The Book Closure days will be notified to the Unit Holders through Emails or SMS or posted on the NBP Funds website.
i. In order to avail the E-Transaction Facility, the Unit Holder shall register by accepting these Terms and Conditions of NBP Funds Mobile Application.
12.1.5. The E-Transactions:
i. A Unit Holder may redeem or redeem and then convert to Units of the Funds. The Unit Holder further undertakes to accept full responsibility for all E-Transactions effected by him or any other person in his stead. The Unit Holder further declares that he has understood and is capable of effecting the E-Transactions and further declares that he shall keep the password assigned to him by NBP Funds in order to use the E-Transaction Facility, in a secure place to prevent it from being misused. The Unit Holder further undertakes that he will be liable for each E-Transaction effected by the use of the Unit Holder’s password, whether or not made with his knowledge or authority and the Unit Holder hereby agrees to unconditionally and irrevocably accept NBP Funds records of all E-Transactions effected by the Unit Holder, as conclusive and binding upon him for all purposes, and all E-Transactions effected by the Unit Holder, shall be deemed to be irrevocable, conclusive and binding upon the Unit Holder.
ii. The cut off times for E-Transactions shall be the normal cut off timings: Equity and equity related funds: Monday – Thursday: 9:00 A.M. – 4:30 P.M. Friday: 9:00 A.M- 5.00 P.M and Saturday Closed. Other Funds Monday – Thursday: 9:00 A.M. – 5:00 P.M. Friday: 9:00 A.M- 5.30 P.M and on Saturday 9:00 A.M- 1.00 P.M only selected funds open (which times can be changed by NBP Funds from time to time) For E-Transactions executed after the cut off times, the applicable Net Asset Value of the pertinent Fund shall be that which prevalent on the next working day. Such E-Transaction will be deemed to be irreversible, unless the Unit Holder cancels it in the manner and at the time prescribed herein. If an E-Transaction is made during the Book Closure period, then the Net Asset Value applicable to that E-Transaction shall be the Net Asset Value of the relevant Fund on the next working day for NBP Funds which is also a Business Day.
iii. The Unit Holder can cancel an E-Transaction, after it has been submitted, by calling NBP Funds call centre before the cut off timings set out hereinabove.
iv. Selecting Funds for E-Transactions shall be the sole responsibility of the Unit Holder and NBP Funds shall not be responsible or liable for any loss on any account that may accrue to the Unit Holder due to the selection of such Fund for the E-Transaction.
v. If the Unit Holder submits a request for redemption of Units of a Fund and their simultaneous conversion into Units of another Fund, then if the value of the redeemed Units is less than the value of the Units of the Fund to which such redeemed amount is to be converted, then all Units available in the Unit Holders account will be redeemed and not converted.
12.1.6. No Liability Section:
i. NBP Funds and the Trustee shall not be responsible for any and all consequences, if the E-Transactions involving the use of the E-Transaction Facility is not honored for any reason, whatsoever, including, but not limited to, any malfunction in the E-Transaction web system and/ or failure of the functioning E-Transaction Facility.
ii. The Unit Holder hereby undertakes to indemnify NBP Funds and the Trustee and hold both of them harmless from and against all losses, damages, costs and expenses (collectively “Losses”) which NBP Funds and/or the Trustee may suffer and sustain due to breach by the Unit Holder of any of these Terms and Conditions and undertakes to make good such Losses as demanded by NBP Funds and/or the Trustee, which demand shall be conclusive and binding upon the Unit Holder.
iii. NBP Funds and the Trustee shall not be liable to the Unit Holder for any break-down, malfunction, erroneous or unauthorized transmission or access to the Web Account.