Common use of Card Account Clause in Contracts

Card Account. 5.1 DBS may at its discretion allow any balance on the Card Account to be overdrawn for any reason, in which case DBS may charge an interest or fi ▇▇▇▇▇ charge based on the amount of the Overdrawn Balance subsisting at anytime on the Card Account and such interest or finance charge shall be calculated on such basis and at such rate as DBS may at its discretion from time to time set without notice, subject to a minimum monthly finance charge of such sum as DBS may set. DBS may debit any such interest or finance charge to the Card Account monthly or at such other intervals as DBS may at its discretion determine. However, nothing in this Agreement shall impose any obligation on DBS to make or provide any loans, advances or credit facility on the Card Account. 5.2 DBS may at its discretion pay interest on the Credit Balance on the Card Account at such rate and calculated on such basis as DBS may determine and such interest shall be paid by crediting the Card Account monthly or at such other intervals as DBS maydecide. 5.3 The number of the Card Account in relation to which a Card is issued may not correspond to the number of the Card and any transfer of any account maintained with any of DBS’s offices to another of its offices shall not result in the account after it has been so transferred being regarded as a different account from the account maintained with the office before it was so transferred notwithstanding any change in the number of the account. 5.4 In the event that DBS approves any request by the Cardmember (or if acceptable to DBS, the Cardholder) to designate another account maintained with DBS as the “Card Account” for the purpose of this Agreement in lieu of the existing Card Account, then that other account shall be the Card Account for the purpose of this Agreement with effect from such date as DBS may at its discretion determine without notice provided nevertheless that this Agreement shall also continue to apply with respect to the Card Transactions for which amounts have been set aside or earmarked with respect to the existing Card Account. 5.5 Notwithstanding anything to the contrary in any other agreement with the Cardmember (whether alone or with any other person(s), if any) relating to the Card Account: 5.5.1 DBS shall be entitled to retain the balance on the Card Account until after the expiry of ninety (90) days after the date when it is closed or terminated (whether at or in the absence of the Cardmember’s request) and all the Cards issued pursuant to this Agreement is returned to DBS cut in halves; 5.5.2 the rights conferred on DBS under this Agreement shall not cease or determine after the closure or termination of the Card Account; and 5.5.3 DBS shall be entitled to continue to debit the Card Account with respect to interest or fi ▇▇▇▇▇ charge and/or Card Transactions effected whether before or after the closure or termination of the Card Account and the Cardmember’s liability to DBS under this Agreement for any balance due to DBS on the Card Account shall continue.

Card Account. 5.1 DBS may at its discretion allow any balance on the Card Account to be overdrawn for any reason, in which case DBS may charge an interest or fi ▇▇▇▇▇ finance charge based on the amount of the Overdrawn Balance subsisting at anytime on the Card Account and such interest or finance charge shall be calculated on such basis and at such rate as DBS may at its discretion from time to time set without notice, subject to a minimum monthly finance charge of such sum as DBS may set. DBS may debit any such interest or finance charge to the Card Account monthly or at such other intervals as DBS may at its discretion determine. However, nothing in this Agreement shall impose any obligation on DBS to make or provide any loans, advances or credit facility on the Card Account. 5.2 DBS may at its discretion pay interest on the Credit Balance on the Card Account at such rate and calculated on such basis as DBS may determine and such interest shall be paid by crediting the Card Account monthly or at such other intervals as DBS maydecidemay decide. 5.3 The number of the Card Account in relation to which a Card is issued may not correspond to the number of the Card and any transfer of any account maintained with any of DBS’s offices to another of its offices shall not result in the account after it has been so transferred being regarded as a different account from the account maintained with the office before it was so transferred notwithstanding any change in the number of the account. 5.4 In the event that DBS approves any request by the Cardmember (or if acceptable to DBS, the Cardholder) to designate another account maintained with DBS as the “Card Account” for the purpose of this Agreement in lieu of the existing Card Account, then that other account shall be the Card Account for the purpose of this Agreement with effect from such date as DBS may at its discretion determine without notice provided nevertheless that this Agreement shall also continue to apply with respect to the Card Transactions for which amounts have been set aside or earmarked with respect to the existing Card Account. 5.5 Notwithstanding anything to the contrary in any other agreement with the Cardmember (whether alone or with any other person(s), if any) relating to the Card Account: 5.5.1 DBS shall be entitled to retain the balance on the Card Account until after the expiry of ninety (90) days after the date when it is closed or terminated (whether at or in the absence of the Cardmember’s request) and all the Cards issued pursuant to this Agreement is returned to DBS cut in halves; 5.5.2 the rights conferred on DBS under this Agreement shall not cease or determine after the closure or termination of the Card Account; and 5.5.3 DBS shall be entitled to continue to debit the Card Account with respect to interest or fi ▇▇▇▇▇ finance charge and/or Card Transactions effected whether before or after the closure or termination of the Card Account and the Cardmember’s liability to DBS under this Agreement for any balance due to DBS on the Card Account shall continue.

Card Account. 5.1 DBS may at its discretion allow any balance on It is hereby further agreed by the Cardholder as follows: 3.1 The Bank shall debit the Card Account with: 3.1.1 The amount for all Transactions; 3.1.2 Any amount incurred by the Bank arising from the Cardholder’s use of the Card; 3.1.3 Any interest and costs incurred by the Cardholder in undertaking Transaction and/or otherwise due to the Bank pursuant hereto; and 3.1.4 Any other liabilities incurred by the Cardholder hereunder; 3.2 The Principal Cardholder shall pay the amount debited to the Card Account as provided hereunder whether a sale or cash advance voucher or other acknowledgement is signed by a Cardholder. 3.3 All Card Transactions which take place in Foreign Currency will for the purposes of calculating the amount due from the Cardholder be converted into Kenya shillings on the settlement date at the prevailing rate of exchange as determined by VISA in accordance with its usual practice. 3.4 The bank will prepare a monthly Statement and it is hereby expressly agreed and declared that it shall be the sole responsibility of the Principal Cardholder to obtain the Statement from the Bank. 3.5 The Principal Cardholder shall pay to the Bank at least fifteen percent (15%) of the Debit Amount (or such other percentage of the Debit Amount as the Bank may from time to time determine) not later than the Due Date. 3.6 Without prejudice to the provisions of clause 3.5 above, the Principal Cardholder shall notify the Bank not later than twenty (20) days after the Statement Date of any error or omissions in the Statement failing which the Bank shall at its option consider the Statement to be overdrawn for any reason, accurate and complete. 3.7 Any part payment received by the Principal Cardholder (including the amounts referred to in which case DBS may charge an interest or fi ▇▇▇▇▇ charge based on clause 3.5) shall at the amount option of the Overdrawn Balance subsisting at anytime Bank, be applied in reducing the amounts shown in the Statement in order of maturity of the Transaction to the extend available, with the payments being applied first against the earliest dated Card Transaction. 3.8 Payments towards the Debit Amount received by way of cheques shall only be credited when are unconditionally cleared by the Bank and discretion on which the cheques are drawn on and the Bank shall be entitled to charge a fee determined by the Bank in its sole absolute discretion for all cheques or other remittances which are not honoured on first presentation, which fees shall be debited to the Card Account and form part of the Debit Amount. 3.9 The Principal Cardholder hereby expressly agrees and declares that the Bank may at any time without notice notwithstanding any settlement of account or other matter whatsoever, combine or consolidate all or any of the Principal Cardholder’s then existing accounts including accounts in the name of the Principal Cardholder or of the Principal Cardholder jointly with others (whether current deposit loan or of any other nature whatsoever whether subject to notice or not and whether in Kenya shillings or in Foreign Currency) wheresoever situate and set-off or transfer any sum standing to the credit of any one or more such interest accounts in or finance charge towards satisfaction of any obligations and liabilities of the Principal Cardholder to the Bank hereunder, whether such liabilities be present, future, actual, contingent, primary, collateral, several or joint. Where such combination, set-off or transfer requires the conversion of one currency into another, such conversion shall be calculated on such basis and at such the then prevailing buying rate as DBS may at its discretion from time to time set without notice, subject to a minimum monthly finance charge of such sum as DBS may set. DBS may debit any such interest exchange of the Bank or finance charge to the Card Account monthly or at such other intervals bank in Kenya nominated by the Bank (as DBS conclusively determined by the Bank) for purchasing the currency for which the Principal Cardholder is liable with the existing currency; 3.10 If the Principal Cardholder maintains an account with the Bank, the Principal Cardholder may at its discretion determine. However, nothing in this Agreement shall impose any obligation on DBS by completing a relevant part of the Application authorize the Bank to make or provide any loans, advances or credit facility on auto-debit the Card debit amount from such Bank Account. 5.2 DBS may at its discretion pay interest 3.11 Depending on the Credit Balance on Limit and other factors, the Card Account at Bank may require such rate security or securities as the Bank may in its sole and calculated on such basis as DBS may determine absolute discretion determine, to secure the monies or liability of the Cardholder hereunder and such interest security or securities shall be paid by crediting in such form as the Card Account monthly or Bank shall determine in its sole and absolute discretion and shall be prepared and perfected at such other intervals as DBS maydecide. 5.3 The number the cost of the Card Account in relation Principal Cardholder including but not limited to which a Card payment of stamp duty and other legal cost incidental thereto. It is issued may not correspond hereby further agreed and declared that the Bank shall have the right to refuse or delay the number of the Card and any transfer issuance of any account maintained with any of DBS’s offices to another of its offices shall not result in Card until all securities the account after it has been so transferred being regarded as a different account from the account maintained with the office before it was so transferred notwithstanding any change in the number of the accountBank requires are perfected. 5.4 In the event that DBS approves any request by the Cardmember (or if acceptable to DBS, the Cardholder) to designate another account maintained with DBS as the “Card Account” for the purpose of this Agreement in lieu of the existing Card Account, then that other account shall be the Card Account for the purpose of this Agreement with effect from such date as DBS may at its discretion determine without notice provided nevertheless that this Agreement shall also continue to apply with respect to the Card Transactions for which amounts have been set aside or earmarked with respect to the existing Card Account. 5.5 Notwithstanding anything to the contrary in any other agreement with the Cardmember (whether alone or with any other person(s), if any) relating to the Card Account: 5.5.1 DBS shall be entitled to retain the balance on the Card Account until after the expiry of ninety (90) days after the date when it is closed or terminated (whether at or in the absence of the Cardmember’s request) and all the Cards issued pursuant to this Agreement is returned to DBS cut in halves; 5.5.2 the rights conferred on DBS under this Agreement shall not cease or determine after the closure or termination of the Card Account; and 5.5.3 DBS shall be entitled to continue to debit the Card Account with respect to interest or fi ▇▇▇▇▇ charge and/or Card Transactions effected whether before or after the closure or termination of the Card Account and the Cardmember’s liability to DBS under this Agreement for any balance due to DBS on the Card Account shall continue.

Card Account. 5.1 DBS may at its discretion allow any balance on 6.1 The Bank shall maintain a Card Account for the Cardholder/Company and all transactions effected by the use of the Card and all fees shall be debited to the relevant Card Account. 6.2 A Card Statement stating the transactions posted to the Card Account shall be sent to the Cardholder/Company monthly or at such intervals as the Bank may deem fit, on the Statement Date. 6.3 All records and entries in the Card Statement shall be overdrawn for deemed correct and binding on the Cardholder/Company unless the Cardholder/Company notifies the Bank in writing of errors (if any) in the Card Statement not later than fourteen (14) days from the date of the Card Statement provided that nothing in clause 6.3 herein shall be construed as affecting the Cardholder/Company in respect of the terms as stated in clauses 7 and 11of this Agreement until and unless the Bank makes any reasonnecessary adjustments and entries. Notwithstanding anything else to the contrary, the Bank shall have the right at any time to make any necessary adjustment and entries to correct any errors or omissions in which case DBS may charge an interest any Card Statement. 6.4 The Cardholder/Companyis required to examine your statement thoroughly and notify the Bank of any discrepancies or fi inaccurate entries found within fourteen (14) days from the statement date. In the absence of such notification, the statement of Card Account shall be deemed conclusive evidence of your confirmation and acceptance of the transaction/s therein. Upon receipt of such notification duly given by the Cardholder/Company within the stipulated time period, the Bank shall look into the disputed transaction to make the necessary adjustments and rectifications, if any. Kindly take note that the Bank will take ▇▇▇▇▇ charge based actions including making a police report and subsequent legal action (if need be) against any Cardholder/Companyfor any attempt to make false claims on the amount disputed transactions. 6.5 The Cardholder/Company is to advise the Bank promptly in writing of any changes of the Overdrawn Balance subsisting at anytime on the Card Account and such interest or finance charge shall be calculated on such basis and at such rate as DBS may at its discretion from time to time set without noticeCardholder/Company’s address, subject to a minimum monthly finance charge of such sum as DBS may set. DBS may debit any such interest or finance charge to the Card Account monthly or at such other intervals as DBS may at its discretion determine. However, nothing in this Agreement shall impose any obligation on DBS to make or provide any loans, advances or credit facility on the Card Account. 5.2 DBS may at its discretion pay interest on the Credit Balance on the Card Account at such rate and calculated on such basis as DBS may determine and such interest shall be paid by crediting the Card Account monthly or at such other intervals as DBS maydecide. 5.3 The number of the Card Account in relation to which a Card is issued may not correspond to the number of the Card and any transfer of any account maintained with any of DBS’s offices to another of its offices shall not result in the account after it has been so transferred being regarded as a different account from the account maintained with the office before it was so transferred notwithstanding any change in the number of the account. 5.4 In the event that DBS approves any request by the Cardmember (or if acceptable to DBS, the Cardholder) to designate another account maintained with DBS as the “Card Account” for the purpose of this Agreement in lieu of the existing Card Account, then that other account shall be the Card Account for the purpose of this Agreement with effect from such date as DBS may at its discretion determine without notice provided nevertheless that this Agreement shall also continue to apply with respect to the Card Transactions for which amounts have been set aside or earmarked with respect to the existing Card Account. 5.5 Notwithstanding anything to the contrary in any other agreement with the Cardmember (whether alone or with any other person(s), if any) relating to the Card Account: 5.5.1 DBS shall be entitled to retain the balance on the Card Account until after the expiry of ninety (90) days after the date when it is closed or terminated (whether at or in the absence of the Cardmember’s request) and all the Cards issued pursuant to this Agreement is returned to DBS cut in halves; 5.5.2 the rights conferred on DBS under this Agreement shall not cease or determine after the closure telephone numbers or termination of the Card Account; and 5.5.3 DBS shall be entitled to continue to debit the Card Account with respect to interest or fi ▇▇▇▇▇ charge and/or Card Transactions effected whether before or after the closure or termination Cardholder as employee of the Card Account and the Cardmember’s liability to DBS under this Agreement for any balance due to DBS on the Card Account shall continueCompany.