what is contract note?

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what is contract note?..

Answer / chandu_c4u

contract note is a document issued by the broking
firms/banks or other surities related firms to its client
to provide the necessary information about the transaction
done by the investor, but these docenetsd are issued later
than the end of the second business day after entering into
the relevant transactions/contracts.

A contract note includes the following information-

(a) the name under which the intermediary carries on
business;or name f the organisation

(b) the name and account number of the client of the
intermediary; or a/c number and a/c holder name and address
details

(c) full particulars of the relevant contract including-

(i) the quantity, name(name of the security), description
(buy.sell) and such other particulars of the securities,
futures contracts or leveraged foreign exchange
contracts involved, as are sufficient to enable them to be
identified;

(ii) where the relevant contract is for a dealing in
securities or futures contracts, the nature of the dealing;

(iii) the name of the market or exchange on which the
relevant contract has been executed; and

(iv) whether the relevant contract is for the opening or
closing of a position;

(d) where the relevant contract is not a leveraged foreign
exchange
contract and the intermediary is acting as
principal, an indication
that it is so acting;
(e) the date-

(i) on which the relevant contract is entered into;
(ii) of settlement or performance of the relevant
contract; and
(iii) on which the contract note is prepared;

(f) the rate or amount of commission payable in connection
with the relevant contract;

(g) the amount of stamp duty payable in connection with the
relevant contract;

(h) the amount of levy payable in connection with the
relevant contract; and

(i) the amount of charges payable in connection with the
relevant contract or, where the relevant contract is in
respect of interests in a collective investment scheme, the
basis for calculation of such charges.

and etc...