Terms and Conditions: CRED Jackpot
September 15 2021 - Team Stockal
Terms & Conditions
- Voucher codes (hereinafter “Voucher Code/ Voucher Codes”) are non-transferable and non-replaceable. If the Voucher Code is lost or stolen or used without permission, neither CRED nor the owner of the Stockal Platform (defined below) i.e., Borderless Investing Inc., and its affiliates (hereinafter “Borderless Investing”), shall be liable or obliged to issue a fresh Voucher Code.
- The Voucher Code is valid until the 31st of October 2021, inclusive of the day. The Voucher Code may only be redeemed once during the term of the promotion and until the expiry date. The validity period of the Voucher Code will not be extended under any circumstances.
- Voucher Code cannot be exchanged against any form of cash, overdraft or similar financial instruments except against the membership plan and allocation of shares in accordance with the terms and conditions herein or the respective terms and conditions of CRED, Stockal Platforms and US Broker, DriveWealth LLC.
- The Voucher Codes may be redeemed online on https://platform.stockal.com/signin or the Stockal Mobile App only (hereinafter “Stockal Platforms”) for those Customers whose accounts on https://platform.stockal.com/signin have been approved.
- Once the Voucher Code is issued to the Customer, the Customer agrees and undertakes to secure and keep the Voucher Code confidential at all times. If it is determined by CRED or Borderless Investing, that any misuse of the Voucher Code or loss of any such confidential information due to the fault of or attributable to the Customer takes place, neither CRED nor Borderless Investing shall be held responsible or liable for the same and no refund will be issued.
- If the ‘Know Your Customer’ (hereinafter “KYC”) details in accordance with the Reserve bank of India (hereinafter “RBI”) Guidelines are found to be incorrect, insufficient or inadequate, Borderless Investing retains the right at its sole discretion to cancel the Voucher Code issued.
- Redeeming the Voucher Code requires Customers to register on https://platform.stockal.com/signup and agree to the terms, conditions and legal disclosures of both Borderless Investing and its’ US broker DriveWealth LLC, should they wish to avail the service. For the Customers who already have an approved account on https://platform.stockal.com/signin, registration will not be required again.
- Successful account approval on the Stockal Platform will require the Customer to complete the KYC process. If the KYC documents are not uploaded and/or approved, the Customer will not be eligible to use the Voucher Codes and upon expiry of the Voucher Code, such Voucher Codes will be deemed to be expired, whereupon subsequent account approval post the expiry date will not revalidate the Voucher Code.
- Customers on redeeming the Voucher Code will be eligible for a complimentary Global Plus annual membership that shall be valid for a period of one (1) year from the start date of the membership plan. Once the membership expires, Customers will have to pay in accordance with the prevailing membership plan fee for Global Plus. If the Customer is already a Global Plan user, he or she will be upgraded to the Global Plus plan. If the Customer is already a Global Plus user, no further upgrade will be possible upon using the Voucher Code.
- On successful redemption of the Voucher Code, stocks will be credited into the Customer’s account within twenty-one (21) business days* from the date of successful activation of the Global Plus membership plan or successful account approval (whichever is later) in the following manner:
- For Jackpot Winner: Stocks each worth Indian rupees twenty thousand (₹20,000) of: Facebook (FB); Alphabet (GOOGL); Amazon (AMZN); Netflix (NFLX) and Apple (AAPL) which will be credited to the Customer’s account*. The amount/value of each stock to be credited will be determined by the closing price of the respective stocks and dollar to Indian rupee foreign exchange rate† of the business day prior to the day when the stock credit process will be initiated.
- For Consolation Winner: Stocks each worth US Dollars five ($5) of Facebook (FB), Alphabet (GOOGL), Amazon (AMZN), Netflix (NFLX) and Apple (AAPL) will be credited to the Customer’s account*. The amount/value of each stock to be credited will be determined by the closing price of the respective stocks on the business day prior to the day when the stock credit process will be initiated.
- The selection of stocks and the number of stocks to be credited to winners shall be at the sole discretion of Borderless Investing on the terms and conditions herein and Stockal Website thereon.
- The total value of stocks finally credited to the account may be subject to change without notice from that described in the terms and conditions herein due to daily fluctuations in stock value, market prices, foreign exchange rates and closing prices of stocks.
- Winners understand and agree that under this promotion they are given the stocks by Borderless Investing as a promotion in the nature of gift.
- This marketing promotion does not constitute investment advice in terms of the extant Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, as amended from time to time.
- The winner/user shall be solely responsible and liable to comply with applicable laws with respect to the acquisition of foreign securities and any reporting/compliance requirements which may emanate from the acquisition of the foreign securities under applicable laws.
- Under the Liberalised Remittance Scheme (hereinafter “LRS”), an individual can annually invest up to USD$ 250,000 outside of India, without seeking approval from the RBI. If the Customer has already crossed this limit for the financial year 2021-22 or would be crossing this limit once the stocks are credited, such Customers will be required to take immediate action to comply with the LRS guidelines.
- The credit of shares will be as per the terms and conditions specified in this document and in accordance with the terms and conditions provided on the Stockal website Borderless Softech Private Limited is not providing any kind of advisory services whatsoever to the Customers with regard to this promotion.
- This Promotion and the rewards provided to Users herein may be subject to change without notice in the event that the laws related to this Promotion undergo a change or amendment.
- Any disputes arising out of and in connection with this promotion shall be subject to the laws of India and the exclusive jurisdiction of the courts in the state of Bangalore Karnataka only.
- Borderless Investing reserves the right at any time without prior notice to add/ alter/ modify/ change all of these Terms and Conditions or to replace wholly, or in part, the promotion by other promotions, whether similar to this promotion or not, or to withdraw it altogether.
- This offer is being made purely on a “best efforts” basis. Customers are not bound in any manner to participate in this offer and any such participation is purely voluntary.
- For any Customer support, please contact email@example.com or +91-22-42792110.
- Queries regarding this promotion will not be entertained by Borderless Investing and promoters beyond 31 October 2021.
- Download the Stockal Mobile app.
- Register on the platform and complete the KYC process if not already done so, the account has to be approved.
- Select Global Plus Plan & input the Voucher Code
- Stocks will be credited in the approved account within twenty-one (21) business days* from the date of successful activation of the Global Plus membership plan or successful account approval (whichever is later).
* Subject to delay caused by unforeseen circumstances and/or force majeure events.
† As per HDFC Bank daily foreign exchange rates.