Common use of Formation of the Card Agreement Clause in Contracts

Formation of the Card Agreement. 2.1 Card applications may be rejected without stating any reasons. Once Swisscard accepts a card application, the card agreement is formed between Swisscard and the Customer (“Card Agreement”). At that point, the Customer will receive the personal, non-transferable Card as well as the associated personal identification number (“PIN Code”). The Card can also be issued entirely virtually and displayed in an environment provided by Swisscard or in a manner agreed on with Swisscard. Every Card shall remain the prop- erty of Swisscard. Swisscard shall open a Card Account on which Transactions (see 4.5), Fees and Interest Charges (see 8) as well as credit can be recorded (“Card Account”). Swisscard can open a joint Card Account for Cards that are issued in form of a package (card duo/package, bundle, etc.).