Common use of Foreign Exchange Regulations Clause in Contracts

Foreign Exchange Regulations. 19.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act No. 12 of 2017, and any other gazettes published from time to time and operating instructions made there under. 19.2 The Bank will comply with reporting requirements of the Director Foreign Exchange regulations or any other regulatory authorities as stipulated from time to time. 19.3 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Foreign Exchange Regulations in force. 19.4 The Cardholder shall only use the Card overseas for personal use related to travel, accommodation, medical, living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via email, internet, telephone which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use is restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the Card, his spouse and children and parents and does not include use for any commercial purpose.

Foreign Exchange Regulations. 19.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act No. 12 of 2017, and any other gazettes published from time to time and operating instructions made there under. 19.2 The Bank will comply with reporting requirements of the Director Foreign Exchange regulations or any other regulatory authorities as stipulated from time to time. 19.3 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Foreign Exchange Regulations in force. 19.4 . The Cardholder shall only use the Card overseas for personal use related to to 19.4 travel, accommodation, medical, living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via email, internet, telephone which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use is restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the Card, his spouse and children and parents and does not include use for any commercial purpose.. The Cardholder shall not permit any other party to use the Cardholder’s

Foreign Exchange Regulations. 19.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act No. No 12 of 2017, and any other gazettes published from time to time and operating instructions made there under. 19.2 The Bank will comply with reporting requirements of the Director Foreign Exchange regulations or any other regulatory authorities as stipulated from time to time. 19.3 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Foreign Exchange Regulations in force. 19.4 The Cardholder shall only use the Card overseas for personal use related to travel, accommodation, medical, living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via emaile-mail, internet, telephone which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use is restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the Card, his spouse and children and parents and does not include use for any commercial purpose.

Foreign Exchange Regulations. 19.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act No. No 12 of 2017, and any other gazettes published from time to time and operating instructions made there under. 19.2 The Bank will comply with reporting requirements of the Director Foreign Exchange regulations or any other regulatory authorities as stipulated from time to time. 19.3 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Foreign Exchange Regulations in force. 19.4 The Cardholder shall only use the Card overseas for personal use related to travel, accommodation, medical, living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via emaile-mail, internet, telephone which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use is restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the Card, his spouse and children and parents and does not include use for any commercial purpose.time