Current Account. The Parties shall allow, in freely convertible currency and in accordance with the Articles of Agreement of the International Monetary Fund, any payments and transfers of the Current Account between the Parties.
Current Account. 4.1. The Client may hold one or more multicurrency accounts with the Bank.
4.2. For effecting operations from the account(s), the Client will be assigned the IBAN (Interntional Bank Account Number) account number - a 22 digit number registered in accordance with the international standards;
4.3. The Client’s account(s) shall be opened upon submission to the Bank of the Client’s relevant application and the documents requested by the Bank. The Client shall be responsible for completeness and authenticity thereof.
4.4. The Client consents that the Bank may open additional account(s) in compliance with the rules and procedures established by the Bank on the grounds of the e-application provided that the Client already holds an account with the Bank.
4.5. Monetary resources can be credited to the Client’s account by means of cash or clearing.
4.6. Upon registration of the Client with the Public Registry National Agency, on the grounds of an e-application and on consent of the client’s authorized person, the Bank shall be entitled to open an account to the client. Before appearance of the client’s authorized representative and submission of the documents requested by the Bank, the Bank shall only be entitled to enter sums to the client’s account (transfer a sum from the current account to the term deposit account). Unless within 30 days from opening the account the client’s authorized representative submits the documents requested by the Bank, the account shall be closed and the sums in it shall be returned to the client.
4.7. The Bank shall ensure that the sum(s) deposited and/or credited to the Client’s accounts including transfer of 10 000 (ten thousand) GEL/its equivalent in a foreign currency or more are posted no later than the next banking day from submission of the Client’s relevant order and/or within the term stipulated in the laws.
4.8. Generally, the sums in the Client’s account(s) shall be written off at its order, request and permission in the way specified in this Contract. The Client acknowledges that without its request, the Bank is not obliged to write off sums from the Client’s account(s) for the purpose of fulfillment of any of its obligations
4.9. Partial fulfillment of a payment order shall not be acceptable;
4.10. For the purpose of writing off the funds from the Client’s account(s), the Bank shall effect operations on the basis of electronic or printed payment documents submitted by the Client during the business day; the Client’s orders...
Current Account. (a) Definition: It is an interest - free call deposit account (Qard Hassan), that is governed by the rules applied to loans with respect to guarantee to repay an equal amount on demand. it does not participate in investment profit nor bear risks.
(b) Persons entitled to open current account: Any person may open a current account if he/she is UAE national or legally resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.
Current Account. The Administrative Agent shall deposit into the Current Account (i) Additional Borrowing Amounts pursuant to Section 4.2(b)(ii) and (ii) amounts on deposit in the Revenue Account as specified in Section 8.12(a).
Current Account. Without prejudice to other provisions of this Agreement, each Party shall allow, in freely convertible currency and in accordance with the provisions of the Articles of the Agreement of the International Monetary Fund, as applicable, any payments and transfers with respect to transactions on the current account of the balance of payments that fall within the scope of this Agreement.
Current Account. Qualification Subject to the Bank’s sole discretion and applicable laws and regulations in the U.A.E., the Customer is only eligible to open a Current Account if the Customer is resident (as defined by the U.A.E. Central Bank from time to time) in the U.A.E. and has full legal capacity.
A. lssuance of Cheque Books
a) Issuance of cheque books to Customers to enable them to operate the Account, shall be at the sole discretion of the Bank. Such cheque book may only be issued to Customers who are resident in the U.A.E. Customers who are or who subsequently become non-residents of the U.A.E. are not eligible to continue to maintain Current Accounts. The Customer may request the Bank to issue a cheque book provided that the Customer shall pay all costs related to the issuance of such a cheque book. Cheque books issued by the Bank may be sent by regular mail and/or courier to the Customer or made available for collection by the Customer or his authorized representative from the branch at which the Account is maintained. If the Customer chooses to have cheque books delivered to him, he shall be liable for any loss or damage resulting from any failure or delay in the delivery of the cheque book to him.
b) The Customer is not entitled to overdraw an Account without the Bank’s prior consent. Interest (calculated on a daily basis based on a 360 day year) on overdrafts will be at rates determined by the Bank. Principal and interest under an overdraft shall be repayable by the Customer on demand.
c) Withdrawals by the Customer may be made in cash against cheques. Withdrawals by any other means may be permitted at the sole discretion of the Bank.
d) The Bank may without enquiry honor any cheques, bills of exchange, promissory notes or other orders for the payment of money and may debit the amount paid to the Account, whether the Account is in credit or overdrawn. The Bank has the right to refuse to honour such instruments if the Account does not have adequate funds and the Customer has not made prior arrangements with the Bank for an appropriate overdraft facility. The Bank shall have no responsibility or liability to the Customer in the event that it refuses to honour such instruments or refuses to make available an overdraft facility.
e) Unless otherwise agreed in writing, the Customer will promptly and without any require- ment of notice from the Bank deposit funds in the Customer’s Account in an amount not less than the amount overdrawn. Unless otherwise agreed in writ...
Current Account. (a) Prior to the Conversion Date, the Additional Borrowing Amounts shall be deposited into the Current Account. The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, to the Company for the benefit of the Persons entitled thereto, amounts requested by the Company for the payment of Project Costs.
(b) The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, directly to the Company for the benefit of the 141 Persons entitled thereto, all other Operating Expenses previously identified in the most recently delivered Expense Certificate which are then due and owing.
Current Account. 1.1. Current Account is a non-interest-bearing accounts opened in IBAN (International Bank Account Number) format for Customer (IBAN Account) which allows execution of payment transactions. Accounts may be opened by all categories of Customers i.e., Individual Customer, Freelance Customer or a Business Customer. Where specifically stated, certain terms included in these GTC apply only to one or more of these categories of Customer and Customers should pay due regard
Current Account. 18.1 The credit balance in the Islamic Current Account is deposited by the Customer as a Qard Hassan (interest – free loan) to the Bank, on which no profit or other form of return is payable. The Bank guarantees to pay any amounts outstanding in the Islamic Current Account in full, subject to the Customer’s compliance with these Terms and Conditions. The Bank may invest all amounts outstanding in the Islamic Current Account in such manner as the Bank, in its absolute discretion, deems fit and no returns or financial benefits of whatsoever nature (including profit) are given on the Islamic Current Account. The Islamic Current Account shall be subject to the minimum balance requirements prescribed by the Bank from time to time and advised to the Customer.
18.2 A cheque book and Debit Card shall, subject to these Terms and Conditions, be available with an Islamic Current Account.
18.3 The Islamic Current Account and any Debit Card or cheque book issued in relation thereto, including any Transactions thereon, shall be subject to these Terms and Conditions.
18.4 The Bank shall have the right to refuse to pay the value of the cheques, drawings and payment orders drawn on the Islamic Current Account if the balance is not sufficient, even if the Customer has credit balance in any other Accounts, unless the Customer has prearranged with the Bank in writing to cover the amount of cheques, or any other withdrawals from any of the Customer’s Accounts with the Bank.
Current Account. 4.1. The Parties explicitly agree to create between them an indivisible current account (the “Current Account”), in which all claims from one Party against the other arising from the present Agreement or based on any other grounds will be settled.
4.2. If the Client needs to have several financing accounts at its disposal, these shall be deemed to be sub-accounts of the single, indivisible Current Account between the Client and the Factor. The Factor shall always have the possibility to offset any debit and credit balances in these sub-accounts / financing accounts with each other, even after bankruptcy of the Client or in case of any other form of concurrence.
4.3. Any setoff in the Current Account shall take place after deduction of the Factoring Fee, the Interest Rates, the Costs and any other expenses made by the Factor that are due by the Client.
4.4. Upon termination of the present Agreement, the credit balances are transferred to the Client upon settlement of the Current Account and after deduction of any possible amounts due (Factoring Fee, Interest Rates, Costs and any other expenses made or to be made by the Factor that are due by the Client).
