Before accessing trading and depository services, the client must complete the registration process as prescribed by Navia from time to time. The client is required to follow the instructions provided on Navia's website to successfully register as a client.​

The client acknowledges that all investment and disinvestment decisions are solely based on their own assessment of their financial circumstances and investment objectives. This includes any decisions made using information available on Navia’s website. The client agrees not to hold Navia, its officers, directors, partners, employees, agents, subsidiaries, affiliates, or business associates liable for any trading losses, costs, or damages arising from reliance on investment information, research opinions, advice, or any other material provided on Navia’s website, in its brochures, or through any other authorized agency.

The client is encouraged to seek independent professional advice to determine the suitability of any investment decisions. Furthermore, the client acknowledges that Navia's employees are not authorized to provide investment advice. The client agrees not to solicit or rely on any advice from Navia, its employees, or its business associates. The client understands that Investment in securities markets are subject to market risks. please read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limits.

a. Account Registration with Navia

Registration on the Navia platform requires completion of the registration form, submission of all mandatory documents, a valid permanent Account Number (pAN), and successful KYC (Know Your Client) verification. Only investors verified through a SEBI-approved KYC Registration Agency (KRA) are eligible to activate their Navia platform accounts.

b. Eligibility for Online Account Opening

• Online account opening using Aadhaar is available only for Indian residents opening individual accounts.
• HUFs, corporate bodies, and NRIs are not eligible for Aadhaar-based online account opening.
• Account would be opened as per name appearing in Income Tax records and the same would be activated after all procedure relating to client due diligence in accordance with regulatory guidelines is completed.
• Client authorizes Navia to contact, including but not restricted to call/sms and sending WhatsApp communication through registered mobile no. even though the same may be registered under DND/DNC Registry.
• During the Aadhaar / KRA based registration process

• Data is fetched directly from the KYC database and cannot be edited.
• The account will be activated only after successful verification of KYC details with the KRA.

c. Account Activation

Once KYC verification is confirmed, your Navia platform account will be activated. You can operate the account using the provided User ID and Password.

d. Compliance with Regulations

To use the platform and access all services, users must:

• Complete the KYC and investment readiness process.
• Provide all necessary personal information as per SEBI and other regulatory guidelines.
• Follow the rules set by SEBI, stock exchanges, depository service providers, clearing corporations, KRA agencies, registrars, asset management companies, and other regulatory authorities.

e. Use of personal Data

Navia may process, transfer, or disclose your personal information to regulatory authorities, exchanges (e.g., NSE, BSE, MCX), asset management companies (AMCs), registrars, banks, or third-party service providers when necessary to provide services or comply with legal requirements.

f. Communication from Navia

When you express interest in opening an account with Navia:

• Navia reserves the right to share relevant account-related information via email, SMS, or WhatsApp.
• By validating your mobile number with an OTP, you consent to Navia sending account updates, offers, or other relevant communication to your registered contact details.

g. Restrictions on Using Navia Services

You must comply with the laws applicable in your location when accessing Navia’s services. If any laws restrict or prohibit your use of the services, you must adhere to those laws or stop using the services. All information you provide to Navia while using the services must be true, accurate, and complete at all times.

Prohibited Activities

You are specifically restricted from:

• Publishing any content or material from the Navia platform on other media without permission.
• Transmitting material that encourages criminal activity, civil liability, or violates laws and regulations.
• Selling, sublicensing, or commercializing any content or material from the Navia platform.
• Interfering with or disrupting the networks or websites connected to Navia’s platform.
• Using Navia in a way that causes harm to the platform or impacts other users’ access.
• Violating any applicable laws or regulations or engaging in activities harmful to Navia, its users, or any business entity.
• Performing unauthorized data mining, harvesting, extracting, or similar activities.
• Collecting or storing personal information from other users without their explicit consent.
• Using Navia’s platform for advertising or marketing without approval.
• The content and information on our website, along with any materials delivered to you, are the property of Navia or its partners (if applicable). The trademarks, trade names, and logos displayed on our website are owned by Navia or third parties. Nothing on the website grants you permission to use these trademarks, trade names, or logos.
• All proprietary rights are reserved by Navia. You may not use, modify, reproduce, copy, store, transmit, distribute, or use any materials from the website for commercial or public purposes without prior written consent from Navia or the relevant parties.

Access Restrictions

• Certain areas of Navia’s platform may be restricted, and Navia reserves the right to limit your access to any part of the platform at its discretion.
• Your user ID and password for Navia’s platform are confidential, and you must keep them secure.

Authorized Representative

• Instructions issued by your authorized representative will be considered binding, as per the authorization letter you provide. You are responsible for ensuring strict security measures and safeguarding the security codes used by you or your authorized representative for online trading

Recording of Conversations

You agree and authorize Navia to record conversations between you and Navia, without prior notice. These recordings will serve as conclusive proof for resolving disputes, including issues related to order execution, as per these terms.

Client Code Modification policy

• Allowed Modifications: Client code changes are permitted only for genuine errors, such as typographical mistakes, as per SEBI and exchange rules.
• Penalties: If Navia incurs a penalty from the exchange due to client code modifications, the same will be debited to your account without prior notice.
• Indemnity: You agree to indemnify Navia against any losses or damages resulting from such modifications.

Customer Support

Navia provides dedicated email IDs and contact numbers for various services, which are listed on the Contact Us page of the website.

Investor Grievances

The Compliance Officer handles investor grievances and client complaints.

• For grievances: Write to [email protected]
• For escalations: Write to [email protected]

All complaints are resolved promptly, and the resolution details are recorded along with the resolution date.

Client Confirmation

I confirm that I have read, understood, and agreed to the following:

• The policy and procedures of the stockbroker and the Tariff Sheet.
• The Rights and Obligations Document, Risk Disclosure Document, Guidance Note, Additional Terms & Conditions, Most important terms and conditions (MITC) and Tariff Sheet for Trading and Demat.
• The Rules and Regulations of the Depository and Depository participant applicable to my account

I agree to abide by these provisions and rules, as updated from time to time.

I have been informed that the standard set of documents is available for reference on the website. https://navia.co.in . Client can also view or download them here Click Here.

a. Unique Login Credentials

Navia provides each client with a unique Client ID and Password to access trading facilities via the Navia platform or other permitted methods. Clients are also given provision to login to the back-office platform via Single sign on (SSO) to access various reports and statements. All terms regarding the use, reset, and modification of these credentials are governed by Navia’s policies and guidelines.

b. Two-Factor Authentication (2FA)

• Navia’s trading platform uses a stringent 2FA system to ensure secure access. This includes

• Entry of the Client ID and Password.
• Authentication through:

• TOTP via apps like Authy, Google Authenticator, or Microsoft Authenticator.
• OTP via SMS and Email.
• Biometrics like finger print, Screen lock code

This 2FA system complies with SEBI and stock exchange guidelines for internet-based trading.

c. Password and 2FA Setup

• Your login userid and password is sent in the welcome email when your account is opened. You will be prompted to change the password on first login. The Client agrees and undertakes to create a strong password immediately on first login. The Client is aware that these passwords are not known or available to Navia.
• These credentials are unique to you and are confidential. They must not be shared with any third party.

d. Call & Trade Facility

• To use the Call & Trade service, clients must call only from their registered mobile numbers. Calls from non registered numbers will not be auto routed to the account opening helpdesk.

e. Password Reset

• Passwords can be reset anytime by selecting the ‘Forgot User ID or password’ link under the Login tab on the Navia App or website.
• You need to enter a strong new password after authentication using OTP.

f. Client Responsibilities

• Clients must keep their Client ID, password, and 2FA credentials secure and confidential. Navia is not liable for any unauthorized orders or transactions executed using a client’s credentials, regardless of authorization.
• Clients are responsible for all activities performed using their login credentials.

g. Risks of Online Trading

• Clients acknowledge the risks of online trading, including potential misuse of login credentials or hacking of their account. Unauthorized access may lead to unauthorized transactions.

h. Reporting Unauthorized Access

• Clients must immediately notify Navia in writing if they:

• Suspect or discover any unauthorized use of their Client ID, password, or 2FA credentials.
• Notice any discrepancies that may indicate unauthorized access.
• Face issues retrieving their credentials even after attempting the password reset process.

Complete details of such incidents, including the date, nature of unauthorized access, and impacted transactions, must be provided to Navia.

i. Reporting Security Flaws

• Clients must promptly inform Navia if they discover any security flaws or vulnerabilities in the platform or its components to ensure a secure trading experience for all users.

• The client confirms that the information provided for modification is true and accurate to the best of their knowledge.
• The client agrees to promptly notify Navia of any discrepancies, changes, or incorrect information they discover.
• The client acknowledges that if any information provided for modifying bank account details is found to be incorrect or misleading, they will be held responsible for any resulting consequences or actions taken.
• The client understands that these changes will apply to both their Trading and Demat accounts held with Navia.

• Order placement:
  All orders placed through the Navia platform using the client’s ID, including purchases, sales, or pledges of securities, will be considered as initiated by the client.
• Responsibility for Orders:
  Navia is not liable for orders placed by mistake. Any order entered using the client’s ID will be treated as valid, and the client will bear full responsibility for it.
• Telephone Orders:
  Clients placing orders via telephone must provide their Client ID, and any additional details required for identification.
• Order Execution Delays:
  Orders are generally routed to the exchange within seconds of placement, but Navia is not responsible for delays or any resulting losses
• Market Orders:
  For market orders, the execution price may differ from the price displayed at the time of placing the order, as determined by the exchange's system.
• Order Forwarding:
  All orders placed on the platform are forwarded to the exchange. Once routed, the execution of these orders depends on market conditions and counterparties.
• Cancellation or Modification of Orders:
  Cancellation or modification of orders is not guaranteed. Requests will only be processed if they are received by the exchange before execution. Market orders are typically executed immediately
• Order Confirmation:
  Orders are not considered executed, cancelled, or modified until confirmation is received from Navia. Delays in confirmation due to technical reasons do not imply completion of the order unless confirmed by Navia.
• Order Limits:
  Navia may impose limits on orders, such as exposure limits, turnover limits, or restrictions on specific securities. These limits may be changed urgently based on Navia’s risk assessment without prior notice to the client. Any loss / Notional loss on account of such orders level restrictions will not be borne by Navia.
• Order Rejections:
  Navia may reject orders for reasons including insufficient funds, unavailability of securities, inadequate margins, suspension of trading for specific securities, securities in ban, disconnection of exchange lease line or the application of circuit breakers. Rejected orders will not be reprocessed. Any loss / Notional loss on account of such rejected orders will not be borne by Navia.
• Scripwise Restrictions:
  Navia may impose restrictions or conditions on trading specific securities or contracts to manage risks. These measures may differ across clients based on Navia’s risk assessment. Any loss / Notional loss on account of such restrictions will not be borne by Navia.
• Market Closures:
  If the market closes before an order is accepted by the exchange, the order may be rejected. Navia is not responsible for reprocessing such orders.
• Discretion in Order Execution:
  Navia reserves the right to execute orders even if the client’s account balance is insufficient. Any deficit will be recovered during settlement.
• Pending Orders after close of Market:
  Pending orders are handled in accordance with exchange norms after the market closes.

1. Order placement and Execution:

• Orders placed through Navia’s online trading platform are directly forwarded to the Exchange.
• If placed via other methods, such as telephone or offline, orders are routed through Exchange terminals or other mechanisms at Navia’s discretion
• Orders placed during trading hours are executed in the market system, subject to counterparty availability

2. Contract Notes and Confirmations:

• After an order is executed, Navia will send a digital contract note to the client’s registered email address within 24 hours, subject to receiving relevant files from the Exchange.
• This digital contract note is considered valid delivery. Clients must review these confirmations immediately upon receipt and report any discrepancies.
• Clients are responsible for maintaining updated contact information to ensure receipt

3. Error Reporting:

• Any errors in contract notes, reports, or statements (e.g., incorrect prices, quantities, or securities) must be reported to Navia via email within 24 hours of receipt. Navia reserves the right to either accept or reject these objections after review

4. Delayed Reports:

• Clients acknowledge that there may be delays in receiving transaction status reports or statements from the Exchange. Navia will forward these delayed reports as soon as they are available.
• Navia is not responsible for losses incurred due to such delays or errors in the reports.

5. System Disruptions:

• Electronic trading systems may experience temporary disruptions, failures, or breakdowns due to technical issues or network disconnections.
• In such events

• Navia may cancel existing orders or square off transactions
• Clients may be unable to place, modify, or cancel orders.
• Navia will not be responsible for losses arising from such disruptions, which are beyond its control

6. Order Rejections:

• Orders may be rejected by Navia or the Exchange for reasons including

• Insufficient funds in the client’s trading accoun
• Unavailability of securities in the client’s demat account
• Insufficient margins for margin trading
• Trading suspensions or circuit breakers applied to specific securities
• Lease line disconnections
• Orders not confirming to exchange regulations and guidelines

• Rejected orders will not be reprocessed and will be treated as lapsed

7 .Risk and Surveillance Measures:

• Navia may impose restrictions, such as

• Limits on specific securities or contracts
• Conditional trading
• Scripwise surveillance

• These measures may differ across clients based on Navia’s risk assessment. Navia reserves the right to restrict trading activity without prior notice

8. Regulatory Compliance:

• All transactions, orders, and settlements will adhere to the guidelines set by SEBI and relevant Exchanges
• Clients must comply with these rules while trading through Navia’s platform

9. Cancellations and Modifications:

• Requests for order cancellation or modification are not guaranteed
• Navia will process these requests only if received before execution
• Market orders are generally executed immediately, making modifications or cancellations unlikely once placed

10. Client Responsibility:

• Clients must review all trade confirmations, contract notes, invoices, and account statements immediately upon receipt.
• Any discrepancies must be reported to Navia within 24 hours. If no objections are raised, all communications will be considered accurate

1. Margin Deposits:

• Clients agree to deposit cash, securities, or other acceptable collateral as margin with Navia upon request
• Navia reserves the right to require a higher margin than what is prescribed by the Exchange
• Clients may also be required to maintain a permanent margin of a specified value to continue using Navia’s online trading services
• Margins will not bear any interest

2. Use of Margin:

• Navia has the right to use a portion or the entirety of the margin by appropriating cash, or by selling or transferring securities placed as margin, to settle any dues owed by the client or their associated entities ("Group").
• This applies in the event of non-fulfillment of obligations by the client or their Group as outlined in the Member Client Agreement.

3. Market Value and Shortfall Monitoring:

• Clients authorize Navia to assess the market value of securities placed as margin after applying a haircut as deemed appropriate.
• Clients must continuously monitor the value of such securities and promptly replenish any shortfall due to market value fluctuations, regardless of whether Navia informs them of such shortfalls.

4. Cash Margin Requirements:

• Navia may require clients to pay margins in cash either in addition to or instead of securities.
• Clients agree to comply immediately with any such cash margin requirements communicated by Navia.

5. Position Liquidation for Non-payment:

• Navia may liquidate or close out any or all client positions due to non-payment of margins or outstanding debts.
• Proceeds from such liquidation will be applied against the client’s liabilities. Any losses or charges arising from such actions will be borne by the client.

6. Exposure Limits:

• Clients agree to abide by exposure limits set by Navia, the Exchange, the Clearing Corporation, or SEBI.

7. Volatility and Margin Shortfall:

• In periods of extreme market volatility, Navia’s margin deposits with the Exchange may be insufficient to cover all client positions.
• If this results in a suspension of trading terminals, clients agree not to hold Navia liable for any resulting losses.

8. Placement of Margins by Navia

• Clients authorize Navia to place their securities or cash used as margin with Exchanges, banks, clearing corporations, or other institutions deemed necessary.
• Navia may take all actions required to facilitate such placements.

9. Sale or Transfer of Securities:

• Any reference to the sale or transfer of securities includes the sale of those placed as margin by the client
• Navia reserves the right to decide which securities to sell in the event of a margin-related sale

1.Money pay-In to Navia:

• Clients must ensure all payments due to Navia are made within the specified time frame.
• If there is any delay, Navia may refuse to execute transactions or close out open positions at its discretion.
• Any losses or costs resulting from such delays will be borne solely by the client.
• All payments must come from the client’s registered bank accounts. payments from unregistered accounts or third-party accounts are not permitted.
• Clients are advised to use the payment gateway provided in the App to transfer margins and amounts due.

2.Money pay-Out by Navia:

• Clients authorize Navia to release payments from their trading account upon receiving a specific request from the client.
• Payments will be processed as per the client’s instructions and the funds available in the trading account.
• Payments will be processed as per the timelines set by Navia and detailed in the FAQ’s.

Running Account Settlement (RAS)

As per SEBI guidelines, brokers must settle the funds in a client’s trading account within one working day of payout. However, clients can authorize Navia to retain funds in their trading account through a Running Account Authorization (RAA). This allows Navia to maintain the funds as a running account. Clients can provide authorization for either 30 days or 90 days.

For 90-Day Authorization:

• If you opt for a 90-day Running Account Authorization, settlement will occur quarterly after accounting for the End of Day (EOD) obligations across all exchanges.
• Settlements will happen on the first Friday of each calendar quarter (e.g., January, April, July, October).
• If the first Friday is a trading holiday, settlement will occur on the previous trading day.

For 30-Day Authorization:

• If you choose a 30-day Running Account Authorization, settlement will occur monthly.
• Settlements will happen on the first Friday of every month.
• If the first Friday is a trading holiday, settlement will occur on the previous trading day.

For Inactivity of 30 Days:

• If you have a credit balance but have not traded for 30 calendar days since your last transaction, your credit balance will be returned to your bank account within three working days after 30 days on inactivity

3. Securities pay-In to Navia:

• Clients must deliver securities required for trade settlement to Navia within 24 hours of the sale order or one day before the pay-in date, whichever is earlier.
• If clients delay the delivery of securities, they will bear responsibility for any losses incurred by Navia, including auction debits and penalties due to non-delivery to the Exchange.
• Trades involving the sale of previously purchased securities (purchased but not yet available in demat account) are conducted at the client’s risk and may result in short delivery or auction penalties.

Non Delivery of Shares

Exchange Shortages:

• If there is a shortage in shares due for delivery, Navia will settle the quantity after the Exchange’s auction buy-in process. The short-delivering client is provisionally debited 150% of the selling value
• Any auction shortage closeout debits received from the Exchange will be charged to the client and the provisional debit of 150% is reversed.
• Clients must reimburse Navia for all costs incurred during the auction process. Navia will not be liable for losses caused by incorrect share transfers.

Internal Shortages from Netting Trades:

• Navia is not obligated to deliver securities or funds to clients unless they are first received by Navia from the Exchange, clearing corporation, or other responsible entities.
• Settlement for shortages due to internal netting is handled as follows:
• The short-delivering client is provisionally debited 150% of the selling value
• The shortfall is closed out on auction date at 1% above the buyer’s traded value and the provisional debit of 150% is reversed
• Any penalties or charges imposed by the Exchange for the shortfall will be passed on to the short-delivering client. The earlier provisional debit will be reversed.

Corporate Action Scenarios:

• For securities with corporate actions (e.g., dividends, bonus shares), short deliveries for cum transactions that cannot be auctioned on a cum basis (or if the auction payout date is after the record date) will be compulsorily closed out
• In such cases, the shortfall is settled at the highest traded price from the first trading day of the settlement period until the auction day.

4. Securities pay-Out by Navia:

• Navia will directly credit securities to the client’s demat account.

5. Third-party Securities:

• Clients must not trade or transact using securities belonging to third parties through their trading account.
• Any violations, including penalties or actions by SEBI or Exchanges, will be the client’s sole responsibility.

6. Securities in No-Delivery period:

• If clients place orders for securities during a no-delivery period, those securities will only be credited to their account as per the settlement schedule notified by the Exchange.

7. Withholding Securities:

• If the client owes money to Navia, Navia is authorized to transfer securities to the client’s account with a pledge marked to Navia’s Client unpaid securities demat account (CUSpA) until the outstanding amounts are cleared.

8. Cash or Securities as Margin:

• Navia may consider any cash or securities pledged to Navia in the client’s trading account as margin, as required for trading.

1. Right to Change Margins

Navia reserves the right to revise margins at any time, even during trading hours, without prior notice. This may occur under the following conditions:

• Exchange or regulatory changes.
• Government policy changes.
• Internal policy adjustments.
• Excessive market volatility or turnover (domestic or global).
• Upcoming elections or significant political changes.

2. Squaring/Closing Out positions

Navia may sell or square off a client’s open positions or pledged securities without notice under the following conditions. Navia is not liable for any losses or charges due to these actions.

2.1 Margin Shortfall

• Clients are responsible for monitoring and maintaining sufficient margins.
• A margin shortfall occurs when the Available Balance is less than the Required Margin for open positions.  The Account is said to have a Margin Shortfall if the Available Balance as reflected in the Trading platform is negative, I.e , the Available Margin is Less than the Margin Required on the open positions.
• Navia may reduce or fully liquidate open positions if a margin shortfall arises. Since liquidation of positions is not a fully automated action in the system, Navia can only square off positions on a best effort basis. It is possible that due to extreme volatility / market freeze or any other conditions, the margin utilized may exceed much beyond the required capital / margin placed by the client before Navia can successfully square off / reduce the positions. In any event Navia cannot be held responsible for such losses or charges incurred.
• Margin reports are sent via email daily, but clients must monitor their positions in real time.

Note: In cases of extreme volatility or illiquidity, positions may exceed margin limits before liquidation, and Navia is not responsible for such losses. In the Equity Future /Commodity Future there are possibilities of freezing of contracts at any time during the trading hours. During this freeze period of the contracts, Navia shall not be able to square off the positions as per the RMS policy. Similarly, even in Illiquid options there exists possibility that there are no counter parties available to square off the positions. Hence in this scenario, Navia shall not be held responsible for any losses due to the non-squaring off of the positions

2.2 MIS/Cover Order (CO) positions

• MIS and CO positions are auto-squared off in the last half hour of trading if not closed by the client.
• Clients can convert MIS positions to NRML if sufficient margins are available.
• Navia does not guarantee successful auto-square-off due to system failures or other factors.

2.3 Margin Trade Funding (MTF) Accounts

• Margin calls for MTF accounts are issued as per SEBI guidelines.
• If the client does not meet margin calls by providing funds or securities, Navia may liquidate funded or pledged shares.

3. Client Unpaid Securities pledge Account (CUSPA)

• If securities are unpaid after payout (T+1), Navia will auto-pledge them in the CUSPA account until funds are received
• Navia may liquidate CUSPA securities if payment is not made, considering factors such as liquidity, volatility, or corporate actions.
• Liquidation will occur without prior notice, and trading may be restricted on the day of liquidation.

4. Penny Stock policy

• Penny stocks are speculative and high-risk due to low liquidity and high volatility.
• Navia reserves the right to deny margin or exposure in penny stocks. Clients bear any opportunity losses arising from such refusals.

5. Setting Exposure Limits

• Exposure limits are based on the margin deposited by clients.
• Navia may modify or impose limits due to regulatory requirements or internal risk assessments without prior notice.
• Limits may include restrictions on turnover, order size, or specific securities.

6. Dormant Accounts

• Accounts with no trades for 24 months will be suspended to prevent misuse.
• To reactivate, clients must resubmit updated KYC documents for verification.

7. Debit Accounts as per SEBI Guidelines

• If debit balances persist beyond T+1+5 days, Navia will block further trades until the balance is cleared.
• Accounts will be unblocked for trading on the next working day after payment is made.

8. Exchange Margin Shortfall penalty

• Clients must maintain sufficient margins to avoid penalties.
• Exchange-imposed penalties of 1% to 5% on margin shortfalls in F&O trades will be passed to the client’s account under allowed circumstances.

9. Surveillance Actions

• Clients may be restricted from taking positions or existing positions may be closed due to:

• Breach of regulatory limits (e.g., market-wide open interest
• Non-compliance with SEBI/Exchange guidelines
• Suspicious transactions flagged under PMLA

• Navia may block trading in securities flagged for unsolicited SMS recommendations, ASM (Additional Surveillance Measures), or GSM (Graded Surveillance Measures).

10. Expiry Day Trading policy

• New positions in current-month derivative contracts cannot be created under NRML on expiry day.
• Auto-square-off of open positions under MIS occurs 30 minutes before market close.
• Clients requiring physical settlement must contact support and ensure sufficient funds or securities are available.
• Since margins are applied and increased on a graded manner for In the money (ITM) contracts from 4 days prior to expiry, penalty and interest charged on margin shortfall, if any would be debited to client account.
• Delivery margin imposed on the physical delivery of the contracts during the expiry period (4 days), will be debited to the client ledger and shall also be applied to the trading terminal during the trading day.
• During the final two days before stock option contract expiry, clients are prohibited from initiating new positions. This measure aims to prevent potential physical settlement risks. However, client with open positions can exit the positions as needed.

11. Physical Settlement of Derivatives

• Physical settlement requires:

• A demat account for trading derivatives.
• 100% contract value in the ledger for fund obligations.
• Deliverable shares in the demat account for short positions.

• Penalties for short delivery are applicable and borne by the client.

12. Illiquid Options and Contracts

• Navia blocks trading in illiquid contracts with low liquidity, high bid-ask spreads, or low open interest to prevent:

• Stuck positions due to lack of counterparties.
• Regulatory penalties for artificial profit/loss creation.

• Clients must adhere to these restrictions to avoid additional margins or penalties.

13. Credit for Sale (CFS)

• Clients may use the credit for sale benefit (after debits are deducted) for new positions on T+1.

More detailed information on our Risk Management policy is available in our Support portal. please read them carefully and understand them before you commence your investment or trading with Navia.

Navia offers Margin Trading Funding (MTF) in the equity segment under the product name Buy Today pay Later (MTF). Below are the terms and conditions for availing of this facility:

1. Margin Requirements

• Clients must provide 33%-50% margin (cash or non-cash) as specified by Navia
• Margins are blocked before orders are released to the Exchange.
• Positions can be carried forward as long as sufficient margins are maintained.

2. Key Features

1. Eligible Securities:

• MTF is available only for SEBI-approved Group-1 securities, subject to Navia’s discretion.
• Navia may update or remove eligible securities at any time without prior notice.

2. Margin Requirements:

• Margins are calculated as per SEBI norms:

• F&O stocks: VaR + 3x ELM.
• Other eligible stocks: VaR + 5x ELM.

Navia may require higher margins as part of its risk management policy.

3. Mark-to-Market (MTM) Losses:

• MTM losses are calculated daily and deducted from the available margin.
• If MTM losses exceed 40% of the client margin, positions will be squared off immediately.

4. Collateral and Haircuts

• Margins can be in cash, cash equivalents, or pledged stocks (with applicable haircuts).
• Navia may increase haircut percentages or margins without prior notice.

5. Settlement of Unexecuted positions:

• If positions cannot be squared off due to illiquidity, circuit filters, or technical issues, they will be settled on a delivery basis.

6. Interest and Charges

• Interest on funded trades ranges from 14.99% to 24% per annum.
• Other statutory charges and taxes apply.

3. Liquidation of Securities

Navia reserves the right to liquidate or square off positions under the following conditions

1. Margin Shortfall:

• Clients must address margin shortfalls immediately after receiving a margin call.
• Positions may be liquidated if shortfalls persist for more than T+3 days.
• Navia may liquidate positions earlier if deemed necessary.

2. Price Volatility:

• If a stock hits the lower circuit or experiences significant price changes.

3. Failure to Confirm pledge:

• Funded stocks must be pledged in Navia’s favor. Failure to confirm the pledge via OTP may result in liquidation.

4. Corporate Actions:

• Positions may be liquidated prior to ex-date for stocks undergoing corporate actions.

5. Collateral Value Decline:

• If collateral value drops due to price changes or removal from the approved list.

6. Regulatory Changes:

• Positions may be liquidated if stocks become ineligible for MTF due to regulatory updates.

4. Client Responsibilities:

1. Margin Monitoring:
Clients must monitor margin availability and MTM losses in real-time.

• If MTM losses exceed 40% of the client margin, Navia will liquidate positions

2. Corporate Actions:

• Clients must provide additional margins if haircuts on pledged stocks are increased due to corporate actions

3. Position Limitations:

• Promoters of companies cannot trade their own company’s stocks under MTF.

4. Reporting Errors:

• Clients must report any transaction issues within T+1 working day.

5. General Conditions

1. Navia’s Discretion:

• Navia may modify margin rates, haircuts, and eligible securities at any time.
• Decisions regarding funding, eligible stocks, and risk management are final and binding.

2. Repayment on Demand:

• MTF balances are repayable on demand. Clients must clear dues promptly upon request.

3. Client Liability:

• Any delays in margin payments or liquidation will attract interest charges.

4. Termination of Facility

• Navia reserves the right to withdraw MTF with 30 days’ notice. Clients must settle positions and clear dues upon withdrawal

6. Situations Where Navia is Not Liable

Navia is not responsible for losses due to:

• System or technical issues.
• Changes in margin or haircut requirements.
• Liquidation of positions due to MTM losses or margin shortfalls.
• Discontinuation of MTF for specific securities.

7. Client Agreement

By availing of MTF, the client agrees to the following:

• Monitor positions:
  Clients must track positions and margins continuously.
• Accept Changes:
  Any regulatory or operational changes will apply automatically.
• Settle Dues:
  Clients must clear dues and repay funded amounts promptly upon request.

• Navia acts as an order collection platform for IPO applications on behalf of clients.
• Clients must read and understand the prospectus and risk factors before applying for any IPO.
• By applying through Navia, clients authorize the platform to act on their behalf for IPO applications.
• Navia is not liable for technical failures that prevent application amounts from being blocked.
• Navia reserves the right to accept or reject applications without providing reasons.
• Non-acceptance/rejection of bids due to insufficient balances or timing issues is not Navia's liability.
• Force majeure events may prevent or delay Navia's performance of its obligations.
• Clients must maintain sufficient funds in their bank accounts linked to Navia for IPO bidding.
• Navia may choose to close or suspend the IPO bidding platform at any time, at its discretion, without prior notification.
• You expressly agree that use of the services of this platform is at your sole risk. All information provided through the website/platform/mobile application is provided on an ‘as is’ best effort basis.

This document outlines the terms and conditions for users of the Navia MF platform. These terms apply whether or not you hold a trading and demat account with Navia Markets Limited (hereinafter referred to as "Navia"). By accessing or using Navia MF, you agree to comply with these terms.

1. About Navia MF

• Navia MF is an order collection platform for:

• Direct mutual funds.

• Orders are placed on platforms like BSE StarMF for mutual funds
• Navia does not provide advisory services or recommendations regarding investments, buying, selling, or trading securities.

2. Key Terms

1. Mutual Funds:

• Purchases are funded directly from your registered bank account and processed via the Indian Clearing Corporation Limited (ICCL).
• Redemption proceeds are credited directly to your bank account.
• Orders placed after cut-off times or on holidays are processed on the next working day, and the applicable NAV is determined by the fund house's guidelines.

2. Data Accuracy

• Prices, NAVs, or other data displayed on Navia MF are provided on an "as is" basis by third parties like AMCs or exchanges. Navia is not liable for discrepancies due to delays or connectivity issues.

3. No Investment Advice:

• Navia MF does not provide any tips, advice, or recommendations. All investments are at your discretion.

3. Usage of Navia MF Services

• You must complete KYC and account opening with Navia to use the platform.
• Personal information may be shared with third parties such as BSE StarMF, financial institutions, AMCs, KRAs, and government agencies to facilitate services.
• By using the platform, you consent to Navia processing your data for these purposes.

4. Charges

• There are currently no charges for using the Navia MF platform.

5. Risks of Investing

Investments in mutual funds come with inherent risks, including but not limited to

Mutual Funds:

1.Market Risk:

• Value of investments may decline due to market fluctuations.

2.Inflation Risk:

• Returns may not keep up with inflation, reducing purchasing power.

3.Interest Rate Risk:

• Rising interest rates may cause a decline in fund values.

4.Currency Risk:

• Adverse currency exchange rates can impact returns.

5.Credit Risk:

• The issuer may default on payments, leading to losses.

6. Responsibilities

1. Sufficient Balance:

• You must maintain enough funds in your bank account for transactions.

2. Understanding Investments

• You are responsible for reading and understanding all Scheme Information Documents (SIDs) and other related materials before investing.

3. Nomination:

• For mutual funds in demat form, nominations made in your demat account apply to your holdings on Navia MF.

7. Liability

Navia is not responsible for

• Delays or non-execution of transactions due to system issues, payment failures, or connectivity problems
• Losses arising from reliance on NAVs or other data displayed on the platform

GTT is a special order type that allows you to place a buy or sell order at a specified price, which remains valid until triggered or for a maximum duration of:

• 1 year for equities.
• 1 day before expiry for derivatives.

How GTT Works

• Example:
  HDFC Bank is trading at ₹1600. If you want to buy it at ₹1455, you can place a GTT order.

• Trigger price: ₹1450
• Limit price: ₹1455
  When the stock price reaches ₹1450, the order is triggered and sent to the Exchange. It gets executed at any price between ₹1450 and ₹1455.

• Order Types:

• GTT orders can only be placed as CNC (for equities) or NRML (for derivatives).
• Only limit orders with a trigger price are allowed.

• Price Guidelines:

• For buy orders, the trigger price should ideally be lower than the limit price.
• For sell orders, the trigger price should ideally be higher than the limit price.

Special Features

1. Extended Validity:

• GTT orders are valid for up to 1 year for equities and 1 day prior to expiry for derivatives if not triggered.
• No need to re-enter the order daily.

2. No price Range Restriction:

• Trigger prices can be set outside the Daily price Range (DpR).
• Example: You can set a trigger price of ₹500 for a stock trading at ₹1000.

3. Maximum Orders:

• Up to 20 GTT orders per client across equities and derivatives.

4. Server-Side Maintenance:

• GTT orders are maintained on Navia’s servers and pushed to the Exchange only when the trigger price is reached.

5. Order Management:

• View, modify, or cancel GTT orders from the GTT Order Book. These orders are not visible in the regular order book.

Risks and Limitations

1. Margin and Stock Check:

• GTT does not verify available margin or stock holdings when the order is placed. These checks happen only when the order is triggered.

2. Execution is Not Guaranteed:

• If the market price skips the limit price after hitting the trigger price, the order remains pending and may get cancelled if not executed within the trading session.

3. Pending GTTs:

• You must check for any pending GTT orders before placing new orders for the same stock.

4. Scenarios That May Affect GTT Orders:

• Corporate Actions: Navia may cancel GTT orders for stocks with upcoming corporate actions.
• Series Change: If the stock series changes.
• ASM/GSM Stocks: Stocks under surveillance measures may lead to GTT cancellation.
• Blocked/Banned Stocks: Stocks restricted by Navia’s RMS policy.
• Network/Technical Issues: Orders may not trigger due to connectivity problems.
• Margin Shortfall: GTT orders fail if sufficient margin is unavailable when triggered.
• Daily price Range (DpR): Orders are rejected by the Exchange if the limit price is outside the circuit limit.
• Volatility/Flash Trades: In volatile markets, trigger prices may be hit but orders may not execute due to skipped limit prices.
• Illiquid Options: GTT orders for illiquid options may not be allowed.
• Derivative Expiry: GTTs for derivatives expire 1 day before contract expiry.

Responsibilities of Users

• Order Management:

• Ensure sufficient margin and stock holdings when GTT orders are triggered.
• Modify or cancel orders before corporate actions or series changes.

• Execution Risks:

• Execution of GTT orders is not guaranteed, especially in volatile markets.

• Compliance:

• All SEBI, Exchange, and Navia policies must be followed when placing GTT orders.

No Liability for Non-Execution

Navia is not liable for any non-execution, rejection, or cancellation of GTT orders, including:

• Missed trading opportunities.
• Technical failures or system errors.
• Market volatility affecting execution.

Changes to GTT Terms:

The terms and conditions for GTT are subject to change without prior notice. Users are advised to review the updated terms regularly.