After you place an order, the exchange sends you a confirmation of your sale or purchase. This is called a Contract Note. It contains all the details of your trade like price, quantity, date, etc. At times of dispute, the Contract Note can be used to prove your ownership.
Every trader receives a Contract Note after placing an order.
Yes, we will send them on the mailing address and email id that you have registered with Kotak Commodities. In case you only require Digital Contract Notes, kindly register for Electronic Contract Notes in accordance with The FMC’s recommended procedure. You can also find these notes in the ‘My Account’ section.
Please note that digitally signed contract notes are valid documents under the Information Technology Act 2000. You can even use them for Income-tax purposes.
No, you will not be charged. We provide the Contract Note service free of charge to our customers. Charges apply only if you request for additional copies of the Contract Note.
You can view your transaction and balance details in your account ledger on Kotakcommodities.com. To do this, first log in to your account on www.kotakcommodities.com. Then, head over to the My Account page and then click on the ‘View My Ledger’ button.
To do so, place a money repayment request online. First log into your Trading account at www.kotakcommodities.com. Then, head to the ‘Money Transfer’ page. Next, select the option ‘Commodity to Bank’. Punch in the details of the amount of money you want transferred. This will be checked against your ledger balance, your minimum margin requests and overall exposure.
The amount, once processed and approved, will then be credited to your registered bank account on the next working day. Note, for an immediate next-day credit, you have to issue the repayment request by 11.00 p.m on a working day.
Note: The fund transfer facility is available only for the online clients.
Usually, the funds that you transfer to your commodity trading account are immediately added to your Base Capital. If you made this transfer before 11.00 pm, the ledger entry would reflect the transfer on the next working day. If you made the transfer after 11.00pm, the ledger entry would reflect the transfer on the second working day.
You can check order status online, by following this path: Log in to your account at www.kotakcommodities.com. The, go to the My Account page. Click on ‘Order status’. Your list of orders will appear on the screen along with their status and other details.
Yes, you will receive a contract note on the completion of each trade. Your dealer/relationship manager will also update you on the status of your trades.
In case you fail to clear your outstanding debit, your trading account may get suspended. In such an event, you will not be able to place any new orders or create fresh positions from your account. The Commodity Risk Management team may liquidate your existing positions to recover the outstanding amount.
You can clear your outstanding debit by using the ‘Fund Transfer’ option available in your online login. Alternatively, you can transfer the funds via NEFT/RTGS/Cheque to our bank account.
If you clear your debit by transferring the outstanding amount from your linked bank account, you can resume trading the very same day. However, you can only trade to the extent of the margin available in your margin account. You need a minimum starting margin of Rs 30,000.
You can see the available margin by clicking on the ‘Available Margin’ option in your trading account.