Terms of Service (for RA managers)

Model Clauses


As per recent SEBI guidelines wrt model portfolios and MITC, we will be making changes to the model clauses of Terms of Service.

The new model clauses will come into effect from 4 March 2025 and can be viewed here. 


As before, you can add additional clauses as required from Publisher Platform -> Profile -> Compliance -> Terms of Service. Any clauses added from the platform will be appended to the model clauses.


Please note that the following needs to be mandatorily added in custom clauses as per the applicable guidelines:





Signing Terms of Service


As per the new guidelines, Research Analysts must obtain explicit consent from clients on the Terms of Service before onboarding them.


Clients will begin the subscription process as they do now by entering their email, selecting a subscription plan, and filling in their billing details. These steps remain unchanged from the current flow.


After completing these steps, clients will be directed to a new step: “Sign Terms of Service”.


In this step, an OTP will be sent to the phone number and email provided by the client. Once the OTP is entered, the Terms of Service will be signed digitally.


After successfully signing the Terms of Service, clients will proceed to the payment step to complete their subscription. Upon successful payment, clients will receive a digitally signed copy of the Terms of Service as part of the subscription confirmation email.


This addition ensures compliance with the latest regulatory guidelines while keeping the overall process seamless.

User Agreements (for IA managers)

As per recent SEBI guidelines wrt model portfolios and MITC, we have recently made changes to the model clauses of Terms of Service. 

The new model clauses will come into effect from 4 March 2025 and can be viewed here.


As before, you can add additional clauses as required from Publisher Platform -> Profile -> Compliance -> Agreement. Any clauses added from the platform will be appended to the model clauses.


Please note that the following needs to be mandatorily added in custom clauses as per the applicable guidelines:

  • Disclosure of the extent of use of AI tools in providing research services, if applicable

  • License type - individual or corporate

  • If part-time IA manager, then details of other business activity or employment

  • Place of arbitration

  • Indemnity clauses

  • If individual IA - Details of Obliger

    • The clauses must set out the full name, PAN and contact details of the Obligor. The clauses must disclose the steps to be taken by the Obligor in the event of the above eventuality in order to ensure protection of interest of the clients and redressal of clients’ claims, including but not limited to

      • (a) giving notice to all clients of the occurrence of the eventuality and confirmation of having taken charge over by the Obligor

      • (b) settlement of account with the client (fees payable and/or fees refundable),

      • (c) completion of transition of any outstanding business to another duly registered investment adviser,

      • (d) redressal of any outstanding or new disputes / claims of clients.

  • Point 7 as per Annexure A in SEBI circular on Most Important Terms and Conditions (MITC) for Investment Advisers