What is a contract note?

It is a note that describes the rate, date, time at which the trade was transacted (i.e. selling or buying in share's) and the brokerage rate. A contract note issued in the prescribed format establishes a legally enforceable relationship between the client and the member in respect of trades stated in the contract note. These are made in duplicate and the member and the client both keep a copy each. A client should receive the contract note within 24 hours of the executed trade.