Whereas the member is registered as TRADING AND CLEARING MEMBER (Member) of MULTI COMMODITY EXCHANGE OF INDIA LTD ( hereinafter called MCX or the Exchange ) / NATIONAL COMMODITY & DERIVATIVIES EXCHANGE OF INDIA LTD ( hereinafter called NCDEX or the Exchange ). MCX Reg. No. 21245 / NCDEX Reg.No.00610. We are registered with FMC & registration number is MCX/TCM/CORP/1188, NCDEX/TCM/CORP/0118.

Whereas the CONSTITUENT is desirous of investing/trading in those contracts admitted for dealing on MCX as defined an the Bye - Laws of NCDEX.

Whereas the CONSTITUENT has satisfied itself of the capability of the MEMBER to deal in those contracts admitted for dealing on NCDEX/MCX and wishes to execute his orders through him and the Constituent shall continue to satisfy himself of such capability of the MEMBER before executing any orders through him.

Whereas the MEMBER'S has satisfied and shall continuously satisfy himself about the genuineness and financial soundness of the CONSTITUENT and objectives relevant to the services to be provide.

Whereas the MEMBER has taken steps and shall take steps to make the CONSTITUENT aware of the precise nature of the MEMBER'S liability for business to be conducted,including any limitations on that liability and the capacity in which it acts.

In consideration of the Member agreeing to handle the transaction on NCDEX/MCX On my /our behalf, I/We, the Constituent hereby agree that.

1. I/We have read the risk Disclosure Document appended hereto and understand then trading & risk involved in the trading of these instruments.

2. I/We shall be bound by the constituent,bylaws,rules,regulations, and customs of NCDEX/MCX.

3. I/We shall deposit with you monies, securities or other property,Which may be required to open and/or maintain my/our account.

4. I/We shall not, either acting alone or in concert with others, directly or indirectly, hold and control excess numbers of permitted contracts as fixed from time to time by Exchanges.

5. I/We shall not exercise a long or short position where, acting alone or in concert with others, directly or indirectly I/We will have exercised in excess of the limit of permitted contracts as may be fixed to time to time by the exchanges.

6. All monies, securities or others property, which you may hold on my/our account, shall be subject to a general line for the discharge of my/our obligations to you under this agreement.

7. I/we hereby authorize you, should you deem it necessary for your protection to buy, sell or close out any part or all of the contract held in my/our account with you. I/we will reimburse any or all such incidental expense incurred by you.

Now, THEREFORE, in consideration of the mutual understanding as set forth in this agreement, the parties hereto have agreed to the terms and conditions, as follow:

1. The agreement entered into between the Member and the Constituent shall stand terminated by mutual of the parties by giving at least one-month notice to each other. Such termination and the parties shall enjoy same rights and shall have same obligations in respect of such transactions.

2. In the event of the death or the Constituent or is otherwise becoming incapable of receiving an paying for or delivering or transferring commodities which may with the approval of the Exchanges, close out the transaction of the Constituent and the Constituent or his legal representative shall be liable for any losses, costs,damages including statutory / regulatory charges, if any and be entitled to any surplus which may result therefrom.

3. All trades, transactions and contracts are subjects to the Rules, Bye-Laws and Regulations of the Exchanges and shall be deemed to be and shall take effect as wholly made, entered into end to be performed for the purpose of giving effect to the provision of the rules, Bye-Laws and Regulations of the Exchanges.

4. The Member hereby undertakes to maintain the details of the Constituent as mentioned in the Constituent registration form or any other information pertaining to the Constituent, in confidence and that he shall not disclose the same to any person/entity except as required by the Exchanges or as required under the law;

Provided however that the Member shall be allowed to share the details of the Constituent as mentioned in the Constituent registration form or any other information pertaining to the Constituent with parties/ entities other then required under law with the express permission of the Constituents.

5. Provisions in case of default : In the event of a Member on his own account, the Constituent's money shall not be utilized to meet the Members liabilities. In such cases, the Constituent's positions shall be either transferred to another solvent Member or closed-out as per the provisions of the Rules, Byelaws and Regulations of the Exchanges, The loss if any caused to the Constituent because of such action would be recoverable the Constituent from the Member. In the event of failure of the Constituent to fulfill his obligations to the member, the Exchange or the Clearing House, the Constituent's positions may be closed out and the money, if any, of the constituent available with the Member any other Member or the Exchange, may be adjusted against the Constituent liabilities / obligations.

The Professional Clearing Member (PCM). If opted by the Constituent to settle his trades, shall confirm all trades executed as PCM trades on the day the order is executed. In the event of non-confirmation and /or rejection of the trade by such PCM, the constituent shall be liable forth with the applicable margin as enunciated by the Member of the same day.

6. Collateral: The Constituent shall pay to the Member such amount as an initial deposit (collateral / initial deposit ) as decided by the Member,and in such from as may be approved by the Member up-front,on or before creating a position in any contract. The Member shall reserve the mark up margin a position in any contract. The Member shall reserve the mark up margin (commonly referred to as 'haircut margin') from the collateral, which shall not be utilized for margin requirements. The collateral reduced by markup/haircut margin shall thereafter be utilized against creating and maintaining the position by the Constituent. The markup margin shall be subject to the change from time to time as may be decided by the member and / or the exchanges.

7. Utilization by Member of the Initial Deposit by the Constituent : The initial deposit so paid shall be first utilize towards initial margin requirement as calculated by the exchanges from time to time and the balance If any after such adjustment against initial margin payments,will be available for adjustment against daily margin requirement, mark to Mark (MTM) loss on open position created by the Constituent. The Constituent shall forward in advance a written request to the Member for adjustment MTM loss against the cash portion of the collateral.

8. Payment of Margins: The Daily margin requirement can be adjusted against the collateral maintained by the Constituent with the Member. The member shall be accept from the Constituent further order, which if executed, will add to the open position, only if the balance collateral is adequate to meet the initial margin on such new position If the balance collateral is not adequate for adjusting the daily margin requirement, the Constituent shall deposit the additional margins as required by the Member. The Constituent shall also be obliged to pay the shortfall of the daily margin, if any, on the immediate succeeding business day when the Member raises such additional margin requirement. The Constituent shall not be permitted to create any new open position, until receipt of such additional margin.

If the constituent defaults in paying the daily margin, the Members shall be entitled to liquidate / close out all or any of the Constituent's positions. Without prejudice to the Member's right to refer to matter to arbitration. Any and all losses and financial charges on account of such liquidation / closing out shall be charged to and born by the Constituent. The Member is permitted in its sole and absolute discretion to impose additional margin (even though not imposed by the Exchanges, the clearing Corporation / Clearing House) and the Constituent shall be obliged to fulfill such additional margin requirements.

9. Receipts & Payments of Premium MTM: The Member will block up-front from the collateral maintained with it the MTM loss on open positions. The Member shall accept from the Constituent further order, which if executed, will add to the open positions only if the balance collateral is sufficient to meet the requisite margin on such new position. The Constituent shall be obliged to pay the amount of MTM loss blocked against the collateral on the immediate succeeding business day. The Member will adjust the Constituent's liability towards MTM loss against the initial deposit maintained in cash by the Constituent provide a written request is giving by the Constituent to the member to this effect.If the Constituent defaults in paying in the MTM loss, the Members shall be entitled to liquidate / close out all or any of the Constituent's positions, Without prejudice to the Member's right to refer the matter to arbitration. Any and all losses and financial charges on account of such liquidation / closing out shell be charged to and borne by the Constituent.

On a written request from the Constituent,MTM profit (on derivative positions) shall be adjusted towards the collateral maintained with the Member. These adjustments pertaining to MTM profit shall be treated as additional collateral brought in by the Constituent and the Member shall reserve the mark up margin from this collateral, which shall not be utilized for margin requirements. The total collateral (inclusive of mark to market inflows) reduced by markup shall thereafter be utilized against creating and maintaining the position by the Constituents.

10. If the complete recovery is not possible then, the Member shall be entitled to liquidate / close out all or any of the Constituent's other out standing position, without prejudice to the Member's right to recover the damage from the Constituent. Any and all losses and financial charges on account of such liquidation / closing out shall be charged to and borne by the Constituent.

11. The Constituent acknowledges that all contracts culminating in delivery (which are not squared off and information for giving and taking delivery is given by the Constituents) would be transactions for purchase and sales between the Constituents inter-se and the Constituents would be personally liable to each other though the contract and relationship are governed and regulated by the Bye Law, Rules and Regulations of the Exchanges.

12. The Exchange may cancel a trade suo-moto without giving any reason thereof. In the event of such cancellation, Member shall be entitled to cancel relative contract(s) with CONSTITIENT.

13. All trades, transactions and contracts are subject to the Rules and Regulations of the Exchange and shall be deemed to be and shall take effect as wholly made, entered into and to be performed in the city of Mumbai and the parties to such trade shall be deemed to have submitted to the jurisdiction of the courts in Mumbai for the purpose of giving effect to the provisions of the Rules and Regulations of the Exchange.