Terms & Conditions for eCAN (Electronic data submission for CAN Registration)

  1. I/We acknowledge to have read and understood the Terms and Conditions contained herein as well as the Terms and Conditions applicable to a regular CAN and agree to be legally bound by them always by ticking the "I Agree to the eCAN Terms” check box.
  2. I/We agree that CAN shall be created only upon the data submitted for CAN creation being complete in all respects and the supporting documents being in good order, clear and legible, to the satisfaction of MFUI.
  3. I/We agree that MFUI may acquire any data / information / documents such as signatures, Bank Account details etc. from KYC Registration Agencies (KRA) / CERSAI / AMCs / RTAs or any other third party to share the same with MFUI as per my/ our terms of agreement with such parties and / or MFUI and utilize such data sourced from such parties for the creation of CAN. I / We also unequivocally authorize MFUI to obtain data / information / documents from such third parties and rely on them without validating the same with me / us.
  4. I / We understand that, eCAN can be generated through two different modes i.e. partially electronic or completely electronic.
  5. I / We also understand that:
    1. A completely electronic eCAN requires the following conditions to be met:
      1. The investor has an existing folio in any of the MFU participating AMCs matching the CAN criteria; and
      2. At least one of the Bank Account submitted for registration is a registered bank account in any of the mapped folios. The bank accounts unregistered in any of the mapped folios will be ignored for registration under CAN.
    2. Where the above conditions are not satisfied, the eCAN will be converted to partially electronic eCAN and the relevant procedures shall be applicable.
  6. I / We agree that for partially electronic eCAN, MFUI will auto-generate CAN Registration Form (CRF) based on the data submitted by me / us electronically and provide a pre-filled CRF to me / us which needs to be signed and submitted along with necessary documents back to MFUI / MFUI authorized entity / MFU Point of Service (POS) for completion of the registration formalities.
  7. I / We agree that for completely electronic eCAN, MFUI will auto-generate a CRF based on the data / information / documents submitted by me / us electronically and sourced by MFUI from the above mentioned third parties. I/We also agree that the CRF so generated will be a valid and legally binding document for all purposes whatsoever related to the CAN.
  8. I / We agree that in the event of mismatch between the signature(s) as per KRA / CERSAI / RTA/ AMC records and those affixed upon the transaction forms, the transactions are liable to be rejected.
  9. MFUI at its discretion may call for physical submission of CRF along with supporting documents and specimen signatures. MFUI reserves the right to seek any additional information / confirmation (oral / written) as it may deem necessary to authenticate the eCAN.
  10. I / We agree not to misrepresent my / our identity or provide information about any other person in the eCAN process or violate the legal rights of any person by creating a CAN on his /her behalf.
  11. I / We hereby declare that:
    1. I / We have read and understood the information, requirements and the instructions mentioned in this Form (including the FATCA & CRS instructions) and hereby confirm that the information provided by me / us on this form is true, correct and complete to the best of my / our knowledge and belief and provided after necessary consultation with tax professionals.
    2. I / We hereby agree and confirm to inform MFUI / AMC / Mutual Fund / Trustees for any modification to this information promptly.
    3. I / We further agree to abide by the provisions of the Scheme related documents inter alia provisions on Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) on Automatic Exchange of Information (AEOI).
    4. In case any of the information is found to be false or untrue or misrepresenting, I / We am / are aware that I / We may be liable for it.
    5. I / We have provided all the necessary documents / annexures, wherever asked for, to substantiate the information provided by me / us in the form and agree to provide any further information if required, for this registration.
    6. I / We hereby agree and authorize MFU to map our existing and future folios with Mutual Funds to this CAN and update the information provided hereinabove in these folios from time to time.
  12. I / We agree to indemnify MFUI from and against any claims, actions or demands, including without limitation legal fees alleging or resulting from the breach of any illegal, unauthorized or fraudulent usage of eCAN or the breach of terms and conditions contained herein.