Industrial and Commercial bank of China, Hanoi Branch (ICBC Hanoi) would like to sincerely thank you for choosing to open and use account services with us. It is important to read and understand these general terms and conditions on accounts when managing your account. This document should be read carefully together with the Application for pening Opening Organization Account and Registering Related Services.
(I) GENERAL TERMS AND CONDITIONS ON ACCOUNTS (Version 202204)
Article 1: Definitions
- "ICBC Hanoi", "Bank" is the Industrial and Commercial Bank of China Limited - Hanoi City Branch.
- "Account" means a demand account and/ or term deposit account of the Account Holder opened at the Bank.
- "Account service" means all the banking services relating to accounts at the Bank's counters, bank card products and internet banking services.
- "Account Holder" is an individual or an organization who fully satifies the conditions of opening current accounts specified in Circular No. 23/2014/TT-NHNN on guiding the opening and use of current account at payment service providers, and/ or the conditions of term depositors according to Circular No. 49/2018/TT-NHNN on provisions of term deposits and subsequent amendments.
Article 2: Opening and using Accounts
- The opening and using of Accounts, account services are carried out under the guidance of the State Bank of Vietnam, regulations of competent authorities, the Bank and legitimate requirements of the Account Holder.
- The Account Holder is allowed to use demand accounts to deposit, withdraw cash and request the Bank to supply payment services via account in compliance with applicable laws and regulations
1. Authorization:
- The Account Holder may authorize others in writing to use his (her) Account in accordance with regulations of the laws and the Bank from time to time. The authorized person has rights and obligations within the authorization scope and is not allowed to re-authorize any third person.
- In case the authorization does not specify the scope of authorization, the authorization is considered as a full authorization.
- In case the authorization does not specify the duration, the authorization is considered to be effective from the later of the date of opening the Account or the date of request and valid for 01 year from the effective date.
2. Account Temporarily Locked/Frozen/Closed:
- Temporarily locking the Account is the act of the Bank to suspend transactions of the entirety or a part of the amount in the payment account upon a written request from the Account Holder (or legal representative of the Account Holder) or a written agreement between the Account Holder and the Bank.
- “Account freezing” means ICBC Hanoi will freeze a part or the entirety of the amount in the Account in the following cases: (i) There are written requests of competent authorities in accordance with laws and regulations; (ii) there are mistakes or errors when crediting into the Accounts or there are requests of refunding by payment service providers (the frozen amounts do not exceed the amounts mistakenly/error credited).
- The Bank will close the Accounts in the following cases:
(i) There is a written request of closing the Account of the Account Holder providing that the Account Holder has fulfilled all the obligations relating to the Account;
(ii) The Account Holder dies, is declared as died, lost or incapacitated ;
(iii) The Bank may close the customer's Account in the following cases:
+ The Account Holder ceases operation, the Account Holder violates provisions in the General Terms and Conditions on Accounts and Services;
+ The bank accounts have no transaction record during two years and have balance amount below 2,000,000VND (for VND accounts), or 50USD (for USD accounts), or 30EUR (for EUR accounts); Before terminating, The Bank will notify Customer through messenger or annouce on its website;
+ Other cases as prescribed by laws and regulations.
- After the account is closed, the account balance is handled as follows:
(i) At the request of the Account Holder or legally authorized person; (ii) At the request of The Court or competent authority; (iii) The Account Holder or legally authorized person holds legal account opening certificate and handles it in accordance with current laws and relevant regulations of the Bank. No interest will be calculated on the account balance from the date of account closure.
- If the Account Holder wants to continue using the Account after the Account is closed, the opening procedures as required by law and the Bank must be carried out.
- The termination of account temporary locking, partial or entire freezing account, or account closure must be carried out in accordance with relevant provision of laws.
3. Interest rate and interest payment method:
- The interest rate applicable to the amount in current account is the interest rate applicable to demand deposits according to the interest rate table announced by the Bank from time to time.
- The interest rate applicable to the deposits in term deposit account is the interest rate applicable to term deposits at the deposits time or at the time that term deposits is renewed. The interest rate applicable to term deposits shall be in accordance with the interest rate table announced by the Bank from time to time.
- Interest calculation method: Amount*interest rate (%/year)*number of actual deposit days/365 days.
- Interest payment method to the amount in the current account: the Bank will pay monthly interest according to the Bank's regulations announced from time to time.
- Interest payment method to deposits in term deposit account, the Bank will pay all principal and interest of each deposit to the Account Holder on maturity date. If the Bank does not perform or does not perform fully the payment of principal and interest to the Account Holder, interest rate of late payment is applied to the overdue principal amount of 150% of the interest rate in due, interest rate of late payment applicable to late payment interest is 10%/year.
4. Advance payment, extend deposit term
- The Account Holder wants to withdraw all or a part of deposit amount before maturity date, must inform the Bank before the expected withdrawal date of 02 (two ) working days. If the Account Holder does not inform first, the Bank has the right to refuse to implement the Account Holder’s request.
- Account is entitled to interest calculated on the amount withdrawn before maturity with the interest rate of demand deposit for the period from the deposit date to the next day prior to the date of early withdrawal.
- If the Account Holder want to extend deposit term, the Account Holder must (1) choose to extend the term at the Disposal instructions for time deposit transaction ; or (2) notify the Bank before due date 02 (two) working days. For foreign institutional and individual customers who are non-resident, foreign individuals who are residents, the deposit term must not be longer than the remaining validity term of the information verified documents specified in Clause 4 and Clause 5 Article 4 of Circular 49/2018/TT-NHNN.
Article 3: Rights and obligations of the Account Holder
1. Rights of the Account Holder
-To use money on the Account to carry out orders of cash withdrawal and deposit, and require the Bank to perform the valid and legitimate payment orders (money transfers) within account balance or overdraft limit (if permitted).
- To authorize another person or organization to exercise a number or all of its rights of using the Account.
- To request for information, statements on payment transactions and account balance. To request for examination, ask for clarification relating to transactions via the Account.
- To request the Bank to close, temporarily lock or change the way of using the Account when necessary. The request should be made in writing and send to the Bank's attention. The Bank shall promptly process the Account Holder’s requests in compliance with relevant procedures and law regulations.
- To own the interest on balance of the Account at the interest rate specified by the Bank from time to time and published on the Bank's official website.
- To request the Bank to keep the safety of the Account balance and confidentiality of information relating to the Account as prescribed by the laws.
- To request the Bank to compensate for any actual damages due to the Bank's faults.
- For the personal account used for payroll service, the Account Holder’s agrees to the Bank to handle the business according to the list of information on payroll remittance provided by the corporate to the Bank.
2. Obligations of the Account Holder
- To provide accurate and true information in the dossier of opening the Account, to be liable for all information as registered in the dossier of opening the Account and to timely notify the Bank when there is any change to the registered information.
- To be responsible for the storage and keeping confidentiality of the Account information. To be liable for all transactions performed via the Account. To take legal responsibility for the authenticity of the documents presented to the Bank when performing transactions via the Account.
- To ensure that the Account balance is sufficient to perform payment instructions, to be responsible for the payment exceeding the Account balance or overdraft limit; and to maintain the minimum balance prescribed by the Bank.
- To comply with the account service charges provided by the Bank and published on the Bank's official websitefrom time to time.
- To carry out the accounting, tracking account balances, comparing the balances with credit notes/debit notes/bank statements sent by the Bank.
- To timely notify the Bank and take responsibility for errors or misuse, fraudulent when using payment services through the Account due to its faults. Where there are mistakes in payment documents, a written commitment must be provided for the Bank's consideration.
- To comply with the Bank's instructions on making payment orders, using means of payment, payment transactions via the Account; use, transfer and storage of transaction documents; payment security measures as regulated by the Bank.
- To only deposit and receive term deposits through its current account. To promptly notify the Bank when its current account is frozen, closed, temporarily locked and other changes of the current account status; or the Disposal instructions of term deposit transaction is crumpled, broken, torn, lost. To take responsibility for risk or losses due to the delay in notifying the Bank of the above situations.
- To promptly notify the Bank when detecting errors or mistakes on its Account. The Account Holder may send written notices to the Bank, report at the counter or call to the hotline 18008020( out of business time ), 024.62699818 / 62699830 ( in business time ), and provide exactly the information and timing of the transaction to check. The maximum time limit for a trace request made by the Account Holder is 60 days from the day of the transaction subject to the request.
- Not to lend or rent the Account to any third party; Not to use the Account to perform any transactions for the purposes of money laundering, terrorist financing, fraud, or other illegal actions.
- To be under the obligation of returning money acquired due to the Bank's faults or incidents relating to processing or transmission systems under requests of the Bank.
Article 4: Rights and obligations of the Bank
1. Rights of the Bank
- The Bank has the right to debit the Accounts in the following cases: collecting due and overdue debts, interest and charge incurred; adjusting transactions which are error processed, inconsistent with the nature or inappropriate with the account usage and notify the Account Holder; there are written requests of State competent authorities; other circumstances that have been negotiated with the Account Holder on the basis of compliance with the regulations of the State Bank and the Bank.
- To be exempted from liabilities in case a processing system or transmission system supplied by a third party causes incidents beyond the Bank's control.
- Having the right to refuse the Account Holder's payment instructions in the following cases: the Account Holder does not sufficiently provide the required information for the payment procedure; there are written orders of State competent authorities; the payment instruction is not in order; the Account balance is insufficient; the Account is is temporarily locked or frozen.
- Having the right to reject the Account Holder's requests of temporarily locking or freezing the Account or postpone locking the Account if the Account Holder has not fulfilled its payment obligations under decisions of State competent authorities or has not paid payable debts to the Bank.
- Having the right to suspend requests for payment services of the Account Holder, hold the money (as exhibit) and immediately notify the competent authorities for consideration and handling if the Account User breaches the Bank's regulations or agreements with the Bank or there are signs of law breaking.
- To be allowed to provide State competent authorities with account information, transaction information and other information of the Account Holder for the purposes of investigation of claims, disputes relating to payment transactions in accordance with the laws.
- Having the right to impose fines on the Account Holder if it violates the agreement and regulations on the use of the Account.
- Other rights stipulated in the relevant laws and regulations.
- Having the right to open the intermediate accounts to facilitate transactions of the Account.
2. Obligations of the Bank
- To provide the Account Holder with guidance on the accurate implementation of regulations on account opening, create transaction documents and relevant regulations on account using, detect and timely make adjustments to accounts wrongly opened or inexactly used.
- To completely and timely process payment orders, other requirements on using the Account of the Account Holder in compliance with regulations or agreements between the Account Holder and the Bank; to control the Account Holder’s payment orders and ensure payment orders are established in compliance with the regulations and laws, in order and compatible with the registered information; to adequately and timely provide services, payment means to serve the needs of carrying out transactions via the Bank of the Account Holder.
- To promptly send all debit notices, credit notices (copies), detailed accounting books (bank statements); the balance information at the request of the Account Holder. To be responsible for timely handling the Account Holder’s claims relating to transactions via the Account and Account balance.
- To timely update information upon receiving the Account Holder’s notice on the information of the account opening dossier. To preserve and store the Account opening dossier and Account transaction documents in accordance with the laws. To be under the obligation of keeping confidentiality of all information relating to the Account and transactions via the Account as prescribed by law. The Bank is responsible for protecting the Account Holder’s information and not entitled to collect, use or transfer the information of the Account Holder to any third party without the Account Holder’s consent except where required by State competent authorities.
- To handle the Account Holder’s requests for examination or claims within 30 working days from the day of receiving such requests or claims. If the Bank cannot determine the causes or the responsible party within the above time-limit, the Bank must negotiate with the Account Holder on the settlements within the next 15 working days.
- Base on the actual situation, to coordinate and discuss with customer the solution to handle immediately upon receiving the notification of the status of his (her) account is frozen, closed, temporarily locked and the circumstances of changing status of customer's current account or the circumstances of the Disposal instructions for time deposit transaction crumpled, broken, torn, lost.
- To notify the Account Holder on the reasons and freezing scope when freezing the Account. To be responsible for keeping the safety of and strictly controlling the freezing amount in accordance with the freezing scope.
- To publish all regulations on account opening and using, service charges at the official website and transaction site of the Bank. To instruct customer the method to inquiry account information by bank statement, at bank counter, or on the Bank's official website;
- To be responsible for damages, violations, misuse of the Account due to faults of the Bank.
Article 5: Service charges
- The service charges are the fees incurred by the Account Holder when using the Bank's services stipulated by the Bank from time to time in compliance with the law and be published on the official website of the Bank, and at the Bank's transaction site.
Article 6: Dispute and Violation Resolution
- The regulations regarding the use of account services are governed by the laws of Vietnam.
- All parties must strictly comply with these General Terms and Conditions, other relevant regulations of the laws and agreements between the parties. If one party violates these General Terms and Conditions, subject to the nature and seriosity of the violation, the offending party may be subject to fines, discipline actions, administrative or criminal sanctions. If there is any damage to the other party, the compensation is required. If the dispute cannot be resolved through negotiation, it will be resolved by the competent court in accordance with the laws.
Article 7: The effective period and termination
- If there are any changes to the service charges or regulations on the management and use of the Account, the Bank will notify the Account Holder directly on the Bank's official website, media or at the Bank's transaction site. The changes to service charges will be applied after 7 days from the date of notification. If the Account Holder continues using the banking services after the notification, it is implicitly considered that the Account Holder has accepted the changes to the service charges or regulations on the management and use of the Account.
- Such amendments or supplements constitute an integral part of these General Terms and Conditions on Accounts and Services. It is the responsibility of all parties to strictly comply with the amendments and supplements.
Article 8: Providing information method
- All information relating to the balance and transactions arising on the Account, blocking Account, and other necessary information in the process of using the current account will be informed to the Account Holder via phone number or email address, or business address as registered with the Bank at the Application for opening bank account and registering related services.
- Inquiring information relating to term deposit accounts can be implement via internet banking or mobile banking.
Article 9: Language
- These General Terms and Conditions are made in Vietnamese, English and Chinese. In the event of any inconsistency, the Vietnamese version shall prevail.
(II) GENERAL TERMS AND CONDITIONS ON USING E-BANKING SERVICES (Version 2022-01)
Article 1 Definitions
The meaning of the terms used in this General Terms and Conditions is explained as following:
- “ E-banking ” is a banking service that assists The Customer to manipulate automated banking services by themselves through the internet and terminal equipments. Industrial and Commercial bank of China Hanoi City Branch provides the E-banking system via phone, internet to capital management services such as: inquiring account information, remittance, online payment and financial management.
- “ Customer ” is an individual, organization opening the accounts at the Bank.
- “Token Key” is a security device that generates the dynamic codes with a display screen and digital keyboard.
- “Branch” is a subsidiary of The Customer (for The Customer as an organization) and openning account at the Bank.
- “E-banking Order” means the inquiry requests of account information, remittance of The Customer which are sent to the Bank by The Customer code (account number) or Token Key and corresponding password via internet system.
- “Online Self-registration” refers to The Customer who has opened an account at the Industrial and Commercial bank of China Hanoi City Branch to self-register E-banking users through online banking or mobile banking. The Customer can apply for inquiry services if they made the Online Self-registration. If The Customer would like to make payment directly, it is required to arrive to the counter to handle it.
Article 2 Rights, obligations of The Customer
1. Rights
- The Customer who voluntarily applies for E-banking services of the Bank, after obtaining the Bank’s written consent, will be entitled to use the corresponding services as registered items;
- During the validity term of the service, The Customer has the right to carry out procedures to terminate the use of E-banking services;
- The Customer received Token Key or card reader device, upon terminating or stopping the services, The Customer is not required to return the Token Key and the card reader device; For online self-registered users, no matching Token Key is required;
- Upon occurring the problems such as network or telecommunications errors, The Customer can not perform transactions via the Bank’s E-banking system, The Customer or The Customer’s branch may go to the Bank’s business location to carry out transactions;
- If there are any questions, suggestions, or comments about the Bank’s E-banking service, The Customer can call the hotline 18008020 ( out of business time), 024.62699818 / 62699830 ( in business time ), or go to the Bank’s transaction office for advices and guidance.
2. Obligations
- The Customer has fully understood the risks which may be arising in the process of using E-banking services (including but not limited to the risks of information disclosure, documentation mistakes and fraudulent information, ect.. ) and voluntarily bears all losses caused by these risks by themself;
- The Customer has read and understood exactly all of these General Terms and Conditions;
- The Customer must ensure the safety and the reliability of the devices that The Customer uses to carry out transaction via E-banking. The Bank is not responsible of the economic losses caused by The Customer’s device trouble and communication problem;
- Upon receiving the Token key, The Customer must confirm and return the receipt of getting corporation Token key, and ask the Bank to release users;
- Upon receiving the Token key, The Customer is responsible for all actions of using Token key, registration card number (login ID) and related password. The Customer must designate the responsible person to keep and use the Token key, the registration card number (login ID) and related password, should not provide them to the unassigned persons. At the same time, The Customer must base on the internal control requirements of itself to set up the operation rights and the operation levels for the Token key reasonably, if no requirement of the large amount payment, The Customer should ask the Bank to set up a Token key with authorized powers to avoid risks and ensure the capital safety ;
The Customer is not permitted to change or cancel the payment orders after the Bank adopts security steps to carry out E-banking payment orders.
- When The Customer receives Token key, if the Token key is damaged, locked, lost or password disclosed, forgotten during the validity term, The Customer should promptly go to the Bank’s business location to carry out the procedures for changing a new Token key, unlocking, claiming of loss, or reset password. All consequences arising before the completion of the above procedures will be borne by The Customer;
- While The Customer uses E-banking service, if the information and documents are provided by The Customer has changed, for example, the change of basic registration information, additional (cancellation) of branches, increase (deletion) of account numbers, change of bank’s name, account number and account name of the branch, The Customer must immediately make the relevant procedures. All consequences arising before the completion of the above procedures will be born by The Customer;
- The Customer must ensure the solvency of accounts using E-banking service, and strictly abide the relevant legal provisions of payment operations. The Customer is ultimately responsible for the legality and validity of the payment order and ensures that the payment method is complied with the scope and content of operations under the license (or other equivalent legal document).
- Upon issuing orders to perform operations through E-banking, The Customer must ensure the authenticity, completeness, and accuracy of the outgoing order’s information. When The Customer would like to make a large amount payment into an individual’s payment account from The Customer’s payment account, The Customer must specific the payment reason and purpose clearly. The Customer takes responsibilities of the authenticity and legality for the reason of that payment reason;
- If The Customer discovers the Bank’s errors in processing operations orders through its E-banking, The Customer must promptly notify to the Bank;
- Upon using the Bank’s E-banking service, The Customer must make payment of fees in accordance with the standard fee schedule of the Bank and agrees that the Bank is permitted to proactively collect fees from The Customer’s accounts;
- The Customer must not refuse to pay the payable amount to the Bank with the reason for a dispute with a third party;
- The Customer must not designedly damage the Bank’s honor or attack the Bank’s E-banking system;
- When The Customer performs transaction through E-banking, if the service functions used by The Customer related to other rules or regulations of the Bank, The Customer must simultaneously comply with those rules or regulations;
- If E-banking is not used for a long time, The Customer must proactively apply for termination.
- For online self-registration, The Customer can ignore the content of the Token Key.
Article 3 Rights, Obligations of the Bank
1. Rights
- The Bank has the rights to decide whether or not to accept The Customer’s E-banking service registration request according to The Customer’s financial information situation;
- The Bank has the rights to set up the standard E-banking service fees schedule, and publish it on the Bank’s official website and business locations;
- The Bank has the rights to upgrade, improve E-banking system;
- The Bank may unilaterally terminate the provision of E-banking services to The Customer on its own initiative under the following circumstances: (i) The Customer does not comply with The Bank‘s regulation and relevant legal provisions; (ii) according to the requirements of relevant goverment agencies; (iii) The Customer maliciously defams and damages the reputation of The Bank; (iv) The Bank found that there was a risk of counterfeiting and fraud; (v) The Customer has not paid the relevant fees on time; (vi) The Customer belongs to the long-term fixed account stipulated in the current “General Terms and Conditions On Accounts”.
- The Bank shall base on The Customer's E-banking order to perform services, the performance time of services such as bank transfer service shall base on the processing time of E-banking system of the Bank. For Token key received by The Customer, all operations such as using The Customer code (card number), password or Token key shall be considered as The Customer self-made, the electronic information’s recording from The Customer’s performance shall be the legal & effective basis to process E-banking operations.
- If one of the following situations occurs so that the Bank cannot carry out the E-banking order of The Customer exactly, the Bank shall not take any responsibilities:
+ Professional orders received by the Bank are unclear, defective, insufficient information;
+ The Customer's account balance or credit limit is insufficient;
+ The amount of The Customer's account is frozen or deducted in accordance with the regulations of laws;
+ The Customer does not operate in accordance with the Bank's relating professional regulations;
+ Force majeure circumstances or other problems are not caused by the Bank's fault.
- When the agreement is terminated or stopped during the validity term, the Bank will not return the relevant fees paid by The Customer;
- If the Bank’s E-banking system has errors, problems or other causes those got The Customer improperly benefit, the Bank has the right to deduct such benefit from The Customer’s account or suspend E-banking service for The Customer temporarily ;
- The Bank has the right to refuse to provide E-banking services to The Customer if The Customer does not have the data submission according to the required method by this regulation;
2. Obligations
- The Bank is responsible for the legality of the related software used in E-banking;
- The Bank is responsible for promptly carrying out procedures to register E-banking services for The Customer, and providing corresponding E-banking services to The Customer according to the different registration functions;
- The Bank is responsible for providing service advices on E-banking to The Customer, and publishing contents such as: business introduction, inquiry – answer, transaction rules at the Bank’s official website;
- The Bank may use The Customer's documents and transaction details to the extent permitted by law. The Bank is obliged to keep confidential the records and information provided by The Customer, unless other provisions provided by law;
- When The Customer registers to receive Token Key and is accepted by the Bank, the Bank must promptly deliver Token Key and password to The Customer and ensure that user is frozen before delivery;
- In case the Bank's system is operating normally, the Bank is responsible for promptly handling the exact E-banking business orders received from The Customer . Services are as follows:
+ Providing The Customer with 24-hour online account inquiry service;
+ For The Customer's payment orders that the beneficiary opens an account at the Bank, the Bank will immediately process and credit the beneficiary's account;
+ For payment orders that the beneficiary opens another bank account in Vietnam sent by The Customer, if that payment orders are sent before 16:00 on the working day, the Bank will process in the same day, if such payment orders are sent after 16:00 on the working day, the Bank will process at the next business day;
- Upon receiving a feedback on E-banking service from The Customer, the Bank must promptly check and notify The Customer of the inspection results;
- If The Customer's payment orders are delayed in processing due to the Bank's working mistakes, the Bank must make compensation in accordance with the relevant regulations on the payment measures of the State Bank of Vietnam.
Article 4 Warning of Risks
- If The Customer agrees to use E-banking service provided by the Bank, The Customer is deemed to have fully understood the risks in the transaction through the E-banking, and accept the possible losses from this system.
- The Bank makes all effective measures with the most effort to protect the safety of The Customer's documents and transactions. However, with the responsibility of the Bank to The Customer, The Customer should be specifically noted that exist risks of the E-banking service include but not limit to the following cases:
+ Causes of The Customer's computer related to features, quality of computer, viruses, incidents and other causes that may affect transaction time or transaction data.
+ For organization customers, the internal management regulations for the business approval process must be completed, if causing any loss from the business orders manipulated by non-authorized employees of The Customer and sent to the Bank, The Customer will take all responsibilities.
Article 5 Languages
- These General Terms and Conditions are made in Vietnamese, English and Chinese. In the event of any inconsistency, the Vietnamese version shall prevail.
（III) GENERAL TERMS AND CONDITIONS ON SPOT FOREIGN EXCHANGE TRANSACTIONS（Version 2019-08(01))
Article 1: Definitions and Interpretations
In these General Terms and Conditions, the following terms have the following meanings unless the context requires otherwise:
-“Bank” is Industrial and Commercial Bank of China Limited - Hanoi City Branch.
-“Customer” is an individual or organization opening accounts at the Bank.
-“Spot Foreign Exchange Transaction” means a transaction in which the two Parties buy and sell an amount of foreign currency in exchange for Vietnam Dong or for another foreign currency at the spot rate as fixed at the Transaction Date. Transaction currency, quantity of foreign currency and Vietnamese Dong should be specified on Transaction Date and reflected on transaction documents.
- “Transaction Date” or “Settlement Date” shall be construed as business day on which the two Parties carry out the transaction of foreign exchange purchasing or settlement for Vietnam Dong or other foreign currency at the determined spot rate.
- “Spot Foreign Exchange Rate” means the exchange rate which the Bank announces or is agreed upon by the two Parties and reflected on transaction documents on Transaction Date.
Article 2: Service charges and payment method
1. Service charges: The rate applied to a service actually provided is based on the corresponding rate applied to such service as published by the Bank. If the Bank makes any change to its rates, the new rates will be applied from the date on which such a change comes into effect. the Bank reserves its right in explanation of any matters relating to the service charges.
2. Payment method: the Customer agrees that the Bank may deduct the service charges directly from the account of the Customer opened at the Bank.
Article 3: Other Provisions
1. Unless otherwise agreed in writing, when requesting the Bank to carry out the Spot Foreign Exchange Transaction, the Customer agrees to furnish the Bank with related materials and documents pursuant to the requirements of the Bank, and agrees to make available of the full transacted amount on the Transaction Date. On the same day, the Bank shall pay the Customer the exchanged amount in accordance with the above mentioned foreign exchange transaction.
2. The Customer is under the obligation of submitting to the Bank documents and materials relating to the purpose, amount, foreign currency, duration, remittance of Spot Foreign Exchange Transaction in accordance with laws and regulations on foreign exchange control of foreign currency transactions.
3. The Customer understands and agrees that all Spot Foreign Exchange Transactions carried out at the Customer on or after the date of signing the Contract shall be governed by the Contract, these Regulations and terms, conditions as mentioned in documents, materials in relation to Spot Foreign Exchange Transactions signed by the Bank in each transaction from time to time, including but not limited to withdrawal slips, request for outward remittance, request for amendment of outward remittance and others (if any). The documents and materials shall be an integral part of the Contract. In case of any inconsistency between the Contract or these Regulations and the documents and materials signed, the documents and materials shall prevail unless the Parties agree otherwise.
Article 4: Language
- These General Terms and Conditions are made in Vietnamese, English and Chinese. In the event of any inconsistency, the Vietnamese version shall prevail.