Common use of Execution Time Clause in Contracts

Execution Time. 5.7.1. The payment transactions which fall under the incidence of Law on payment services, shall be executed as follows: 5.7.1.1. For the following payment operations among those referred to under point 2.3 (i) of these Rules: (i) payment operations in Euro; (ii) national payment operations in the currency of a Member State outside the Euro area; (iii) payment operations involving a single monetary conversion between Euro and the official currency of a Member State not belonging to the Euro area, provided that the monetary conversion service required is performed in Romania and, for cross-border payment operations, the cross-border transfer is performed in Euro; (iv) cross-border payments made on the territory of the European Economic Area (expressed in Euro or other official currency of a Member State of the European Economic Area, for which the Bank has correspondent accounts opened; a list of correspondent banks (together with related currencies) may be found at: xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relati i-internationale/banci-corespondente.pdf). The Bank, as the payment service provider of the Paying Customer, guarantees that the amount of the payment operation is credited to the payee’s payment service provider's account at the latest by the end of the next Business Days. This term may be extended by one Business Day for payment operations initiated on paper. [For cross-border payment operations other than those referred to above and preformed on the territory of the European Union, or in the European Economic Area, the Bank, as a payment service provider of the Paying Customer, shall credit the amount of the payment operation to the payee’s payment service provider's account within 4 Business Days.] The term referred to above runs from the time of receipt of the payment order, as agreed under point 5.5 and only with the compliance of the provisions of point 5.1.1. 5.7.1.2. For all payment operations within the scope of the Law on payment services, and if the Customer is the payee, the amount covered by the payment operation shall be made available to the Customer immediately after this amount has been credited to the Bank's account, if: a) the information in the payment instruction is complete, including, without limitation, the correct indication of the IBAN; and if b) on the Bank’s side, one of the following conditions is fulfilled: (i) there is no currency conversion; (ii) there is a currency conversion between Euro and XXX, or between two currencies of Member States. The obligation above, of providing the Customer with the relevant amount, also applies if the Bank is the only payment service provider involved in making the payment. 5.7.1.3. Except for the payment operations referred to under point 2.3 (ii) of these Rules, if a consumer places cash in a payment account opened with the Bank in the currency of such payment account, the Bank shall ensure that the amount is available immediately upon receipt of the funds. 5.7.2. For the payment transactions which do not fall under the incidence of Law on payment services, to each of the point above, respectively 5.7.1.1, 5.7.1.2 and 5.7.1.3, the Bank cannot guarantee a maximum execution time. The Bank processes payments in virtue of the rules of the national and international payment systems and the account terms and conditions agreed by corresponding banks, which practice different execution times depending on the currency, amount or beneficiary customer country.

Execution Time. 5.7.1. The payment transactions which fall under the incidence of Law on payment services, shall be executed as follows: 5.7.1.1. For the following payment operations among those referred to under point 2.3 (i) of these Rules: (i) payment operations in Euro; (ii) national payment operations in the currency of a Member State outside the Euro area; (iii) payment operations involving a single monetary conversion between Euro and the official currency of a Member State not belonging to the Euro area, provided that the monetary conversion service required is performed in Romania and, for cross-cross- border payment operations, the cross-border transfer is performed in Euro; (iv) cross-border payments made on the territory of the European Economic Area (expressed in Euro or other official currency of a Member State of the European Economic Area, for which the Bank has correspondent accounts opened; a list of correspondent banks (together with related currencies) may be found at: xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relati i-xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relatii- internationale/banci-corespondente.pdf). The Bank, as the payment service provider of the Paying Customer, guarantees that the amount of the payment operation is credited to the payee’s payment service provider's account at the latest by the end of the next Business Days. This term may be extended by one Business Day for payment operations initiated on paper. [For cross-border payment operations other than those referred to above and preformed on the territory of the European Union, or in the European Economic Area, the Bank, as a payment service provider of the Paying Customer, shall credit the amount of the payment operation to the payee’s payment service provider's account within 4 Business Days.] The term referred to above runs from the time of receipt of the payment order, as agreed under point 5.5 and only with the compliance of the provisions of point 5.1.1. 5.7.1.2. For all payment operations within the scope of the Law on payment services, and if the Customer is the payee, the amount covered by the payment operation shall be made available to the Customer immediately after this amount has been credited to the Bank's account, if: a) the information in the payment instruction is complete, including, without limitation, the correct indication of the IBAN; and if b) on the Bank’s side, one of the following conditions is fulfilled: (i) there is no currency conversion; (ii) there is a currency conversion between Euro and XXX, or between two currencies of Member States. The obligation above, of providing the Customer with the relevant amount, also applies if the Bank is the only payment service provider involved in making the payment. 5.7.1.3. Except for the payment operations referred to under point 2.3 (ii) of these Rules, if a consumer places cash in a payment account opened with the Bank in the currency of such payment account, the Bank shall ensure that the amount is available immediately upon receipt of the funds. 5.7.2. For the payment transactions which do not fall under the incidence of Law on payment services, to each of the point above, respectively 5.7.1.1, 5.7.1.2 and 5.7.1.3, the Bank cannot guarantee a maximum execution time. The Bank processes payments in virtue of the rules of the national and international payment systems and the account terms and conditions agreed by corresponding banks, which practice different execution times depending on the currency, amount or beneficiary customer country.the

Execution Time. 5.7.1. The payment transactions which fall under the incidence of Law on payment services, shall be executed as follows: 5.7.1.1. For the following payment operations among those referred to under point 2.3 (i) of these Rules: (i) payment operations in Euro; (ii) national payment operations in the currency of a Member State outside the Euro area; (iii) payment operations involving a single monetary conversion between Euro and the official currency of a Member State not belonging to the Euro area, provided that the monetary conversion service required is performed in Romania and, for cross-cross- border payment operations, the cross-border transfer is performed in Euro; (iv) cross-border payments made on the territory of the European Economic Area (expressed in Euro or other official currency of a Member State of the European Economic Area, for which the Bank has correspondent accounts opened; a list of correspondent banks (together with related currencies) may be found at: xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relati i-xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relatii- internationale/banci-corespondente.pdf). The Bank, as the payment service provider of the Paying Customer, guarantees that the amount of the payment operation is credited to the payee’s payment service provider's account at the latest by the end of the next Business Days. This term may be extended by one Business Day for payment operations initiated on paper. [For cross-border payment operations other than those referred to above and preformed on the territory of the European Union, or in the European Economic Area, the Bank, as a payment service provider of the Paying Customer, shall credit the amount of the payment operation to the payee’s payment service provider's account within 4 Business Days.] The term referred to above runs from the time of receipt of the payment order, as agreed under point 5.5 and only with the compliance of the provisions of point 5.1.1. 5.7.1.2. For all payment operations within the scope of the Law on payment services, and if the Customer is the payee, the amount covered by the payment operation shall be made available to the Customer immediately after this amount has been credited to the Bank's account, if: a) the information in the payment instruction is complete, including, without limitation, the correct indication of the IBAN; and if b) on the Bank’s side, one of the following conditions is fulfilled: (i) there is no currency conversion; (ii) there is a currency conversion between Euro and XXX, or between two currencies of Member States. The obligation above, of providing the Customer with the relevant amount, also applies if the Bank is the only payment service provider involved in making the payment. 5.7.1.3. Except for the payment operations referred to under point 2.3 (ii) of these Rules, if a consumer places cash in a payment account opened with the Bank in the currency of such payment account, the Bank shall ensure that the amount is available immediately upon receipt of the funds. 5.7.2. For the payment transactions which do not fall under the incidence of Law on payment services, to each of the point above, respectively 5.7.1.1, 5.7.1.2 and 5.7.1.3, the Bank cannot guarantee a maximum execution time. The Bank processes payments in virtue of the rules of the national and international payment systems and the account terms and conditions agreed by corresponding banks, which practice different execution times depending on the currency, amount or beneficiary customer country.

Execution Time. 5.7.1. The payment transactions which fall under the incidence of Law on payment services, shall be executed as follows: 5.7.1.1. For the following payment operations among those referred to under point 2.3 (i) of these Rules: (i) payment operations in Euro; (ii) national payment operations in the currency of a Member State outside the Euro area; (iii) payment operations involving a single monetary conversion between Euro and the official currency of a Member State not belonging to the Euro area, provided that the monetary conversion service required is performed in Romania and, for cross-cross- border payment operations, the cross-border transfer is performed in Euro; (iv) cross-border payments made on the territory of the European Economic Area (expressed in Euro or other official currency of a Member State of the European Economic Area, for which the Bank has correspondent accounts opened; a list of correspondent banks (together with related currencies) may be found at: xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relati i-xxxxx://xxx.xxxxxxxxx.xx/Portals/0/PDF/relatii- internationale/banci-corespondente.pdf). The Bank, as the payment service provider of the Paying Customer, guarantees that the amount of the payment operation is credited to the payee’s payment service provider's account at the latest by the end of the next Business Days. This term may be extended by one Business Day for payment operations initiated on paper. [For cross-border payment operations other than those referred to above and preformed on the territory of the European Union, or in the European Economic Area, the Bank, as a payment service provider of the Paying Customer, shall credit the amount of the payment operation to the payee’s payment service provider's account within 4 Business Days.] The term referred to above runs from the time of receipt of the payment order, as agreed under point 5.5 and only with the compliance of the provisions of point 5.1.1. 5.7.1.2. For all payment operations within the scope of the Law on payment services, and if the Customer is the payee, the amount covered by the payment operation shall be made available to the Customer immediately after this amount has been credited to the Bank's account, if: a) the information in the payment instruction is complete, including, without limitation, the correct indication of the IBAN; and if b) on the Bank’s side, one of the following conditions is fulfilled: (i) there is no currency conversion; (ii) there is a currency conversion between Euro and XXX, or between two currencies of Member States. The obligation above, of providing the Customer with the relevant amount, also applies if the Bank is the only payment service provider involved in making the payment. 5.7.1.3. Except for the payment operations referred to under point 2.3 (ii) of these Rules, if a consumer places cash in a payment account opened with the Bank in the currency of such payment account, the Bank shall ensure that the amount is available immediately upon receipt of the funds.ensure 5.7.2. For the payment transactions which do not fall under the incidence of Law on payment services, to each of the point above, respectively 5.7.1.1, 5.7.1.2 and 5.7.1.3, the Bank cannot guarantee a maximum execution time. The Bank processes payments in virtue of the rules of the national and international payment systems and the account terms and conditions agreed by corresponding banks, which practice different execution times depending on the currency, amount or beneficiary customer country.