Common use of Applicable law and place of jurisdiction Clause in Contracts

Applicable law and place of jurisdiction. Except to the extent that the Bank notifies the Client otherwise, all legal relations between the Bank and its Clients shall be governed in accordance with the law of the jurisdiction in which the Client's account is held. The place of jurisdiction shall be the courts of law in that jurisdiction unless the Bank elects, at its discretion, to take proceedings within the Client's domicile or before any other competent court.