GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on this agreement, client is entitled to use various credit products. 15.2 General provisions of the credit product are defined by this article, while specific conditions adreefined and regulated by the agreement on the corresponding credit product concluded by the Parti.esAs a rule, other types of credit products are issued on the basis of the agreement concluded between the Bank and the client on credit product services,hiwch does not eliminate the possibility to issue any credit product directly on the basis of this Agreement. 15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige the Bank to disburse ta(cinrefudlil or any part thereof) or provide the Client with a credit service. 15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsio) np(recedent / requirement(s) (if any). 15.2.3 Considering events mentioned inSubparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason to the Client (even if the Parties have concluded a particueladrit cfar cility agreement). 15.3 In order to receive credit product, client must apply to the Bank with application (it is possible to receive some produyctssubmitting application via electronic communications±telephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the credit product (Bank is not obliged to state the reason for-nisosnuance). 15.3.1 Client may, at any time, make a request through anreymote channel/meansof electronic communication of the Bankfor receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid the bank and visit the Bank's branch / service center for taking the copy 15.4 Upon receipt of the credit product, client (debtor) will be obliged to repay it and to pay the interest profit in accordance with theopvrisions agreed with the Bank. 15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH 365 day calendar. 15.5 Monetary obligations of the client are secured as a rule by the amounts accumulated on his account (accounts). 15.6 If the client does not have settlement (current) account, applicoanti for issuing the credit product will be at the same time considered as the application to open the settlement (current) account and such account will be opened for the client prior to issuing the credit product. 15.7 In order to cover the credit product by ht e client/card holder with the amount transferred to the bank or with the existing amount on the account of card holder/client, first of all, insurance premium will be covered with the aforementioned amount, afterwards the penalwtieillsbe covered for deal ying the payment term (if applicable), afterwards interest profit will be covered and finally, the basic amount of credit willsbuebject to coverage. Client is entitling the Bank to: 15.7.1 Amend the rule prescribed by Paragraph5.17 of this Agreement; 15.8 If monthly payment of amount is delayed, the client/card holder will be obliged to pay the penalty to the Bank for delay, whichhmt icgomprise of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the moment of delay. 15.9 Credit product will not accrue late payment interest if the day of deposit (transfer) of amounts coincides with the -nboannking day. In such case, the Client shall deposit (pay) the payable sum to the relevant account on ftohlelowing banking day. 15.10 In order to obtain the credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit obtained from the Bank, deposited interest, penalty (if applicable), insurance premium or dooetspnay on time any commission fee defined by the Bank, the Bank shall be entitled: 15.10.1 To secure its demand bayrresting bank accounts and/osrelling any assets of the client/card holder (this right does not limit the right of the Bank arisen on the basis of paragraph 3.2 of this Articleir)respective of whether the customer's obligation (bank's request) is secured with the right in rem (moretg, ag pledge). Besides, the bank is authorized, at its discretion, to execute in the first place a writ/payment of the asse tangdibinle property of the Customer, ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ RI WKH &XVWRPHU¶V OLDELOLWLHV 15.10.2 To demand from the client/card holder any time to conclude pledge or mortgage agreement in order to cover the debts originated by using the credit limit (In this case, client/card holder will be obliged to conclude relevant agreement with the Bank within no later thanfi5ve() working days from the receipt of the request by the Bank, according to which the client/card holder shall secure the property to be received bByathnek by mortgage or pledge, the amount of which must not be less than the total sum of used credit producetp, odsited interest and the penalty. The client/card holder shall register the rights of the Bank in relevant registry. Expenses associated with the conclusion of the agreement (agreements) andgitshterartieon of rights, originated from the Agreement, in the registry will be carried by the client/card holder); 15.10.3 To request the transfer of pledge and/or mortgage object and after the transfer, to alienate the pledge and/or mortgagteboybdjeircect selling or other rules prescribed by the Civil Code and aftecrovering the necessary expenses for realization, to use the received amount to cover the credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G on any property of the client/debtor. 15.11 In case of delay of payment of monthly amount, interest profit, penalty or insurance premium by the client/debtor, also sinecoaf improper and untimely fulfillment (violation) of any pre-condition, additional condition, requirement of the Bank towards the client and/or any obligation undertaken by the client or in case of other significant basis, the Bank shall be authorized to terminate independently the credit relation/oarnrdelevant agreement and/or demand from the client/debtor to return the credit product in addition to other due fees (interest profit, penalty and other). 15.12 To apply for early repayment and/or early termination of a bank credit (loan), credit line, overdraft, creldimit it and any credit facility (hereinafter UHIHUUHG WR DV WKH ³&UHGLW´- 15I.17R) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnIt/th e3BoDrrUowDeJr(inUcluDdSingKfVull or p art ia l prepayment and/or refinancing of the credit),the Client/the Borrower shall submit to theBank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ hours. Despite the aforementioned, the Bank may satisfy t&heOLHQW¶V WKH %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ (including, technical) reasons and/or for the need to establish some faFcrtosm. the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anV, t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX Furthermore, in cases stipulated by the law, when prepaying fully or partially on a credit (in excess of 2 000 000 GEL eoqr uitisvalent in foreign currency) theClient/the Borrower may submit a resepctive application to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl the credit until the credit is fully or partially prepaid. 15.13 In case of prepayment of thepart of the loan, the bank shall be authorized to unilaterally change the payment schedule (draft a new schedule), in which case, the Client/borrower shall pay off the loan according to the new schedule of the bank. The new schedule shall be drpawoneuof the following principle: 1)the payable amount(principal amount (remainder of the credit) will be equally distributed over the remainingriopde until the loan is fully repaid ; or 2) the period, remaining till full repayment of the credit will be reduecd and the amount, payable in periodicity, envisaged by the schedule will remain unchanged. 15.14 In case of presenting application to cover the credit in advance to the Bank, client/debtor shall be obliged to present athnek Bwith any information/document, which directly or indirectly provides opportunity to establish the fact of credit refinancing or rejects the fact of credit refinancing. 15.15 In case, if the relevant credit conditions foresee the commission fee for refinancing and the Bank shall have a douatbt,hethrefinancing is taking place, the Bank shall be authorized after receiving the application of the client/debtor regarding the advance payment of the c, rteodirtequest the client additionally to present any information/document related with credit rfeinancing within no later than 2 (two) banking days from the date of the request. 15.16 Credit refinancing shall include advance payment (prior to the agreed term) directly and/or indirectly, independently andw/oitrh the help of other person (persons) of the cerdit obtained from TBC Bank with the amount issued by any financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(persons). 15.17 Partiesagree, that: 15.17.1 Bank is not obliged to prove the fact of refinancing and it has a right, upon receipt of information on cred-itfirneancing by any information sources, to make a decision on imposing relevant commission fee and/or penalty on the client/de,bmtoeraning that burden of proof related with the no-nexistence of the refinancing fact is upon the client/debtor; 15.17.2 Amount of advance payment and r-efinancing commission fee and/or penalty is determined by the agreement (agreements) concluded with the client/debtor; 15.17.3 In case, if client/debtor proves the no-nexistence of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the damage caused by nthkeaBctaivities (by violating the obligations undertaken with this Agreement). 15.18 In case, if the Bank demands insurance poli(cwyith conditions set by the bank) by the client to use credit product, client/card holder will be obliged: 15.18.1 Take out insurance withan insurance company approved by the Bank, at rates/terms set by this company; 15.18.2 To implement the insurance in accordance with the conditions requested by the Bank. 15.18.3 To ensure the naming of Bank as the only beneficiary in the insurance policy. 15.18.4 If the term of the insurance policy is less the term of this Agreement/ additional agreement(s), submit to the Bank a renewed insuroalniccye npot later than within 14 (fourteen) calendar days before the date of expiry of the existing insurance policy. 15.18.5 Pay the insurance premium and/or other related fees in the amount charged by the insurance company approved by the Bank. The payment of the insurance premium and/or other related fees is a mandatory payment related to the bank facility (including, a credit fa)cailintyd without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft the insurance premium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce policy 15.19 In case, if the client/card holder does not pay insurance premium/insurance fee in accordance with the rule and timeframsecrpibred by this Agreement/additional agreement(s) and/or the insurance policy, the debt shall be considered delayed. 15.20 In case of essential worsening of the insurance conditions or increase of insurance tariffs, client/card holder shall hraigvhet ato express the intention in writing to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding the annulment of the requirement of obligatory insurance by applying its own credit principles and rules. 15.21 Client/card holder agrees, that the Bank shall deduct monthly insurance premium for the benefit of the insurer (insurancepcaonmy) fromany account of the client/card holder in accordance with the rules envisaged by paragraph 3.2 of this Agreement. 15.22 The client grants the bank an unconditional right to provide the guarantor(s) and/or any persons, whose property acts asescthuerity for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR the Bank and the client (including the bank loan agreement). 15.23 TBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxx, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures and terms envisaged by the Georgian legislDataiotan.described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Ls) QcoHnnVeVcte d DtoQCGIB , inZLOO EH compliance with rules envisaged by the Georgian legislation. At the request of the Cliehnet, Dt ata Processor is obliged to correct, update, complete, block, delete or destroy the data if they are incomplete, inaccurate, outdated, or were collected and processed unlawfully 15.24 Bank has a right to request and receive any personal information aboutctlhieent held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding credit repayment). 15.25 If the client violates obligations undertaken by any agreement with the Bank or this will be necessary due to business rteiopnutoaf the Bank and/or protection of legal interests, Bank shall have a right to transfer to the court/arbitration/National Enfeomrcent Bureau and/or use the information about client, as well as any document signed by the client.
Appears in 1 contract
Samples: Banking Agreement
GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on 16.1 On the basis of this agreement, client agreement the client/the cardholder is entitled to use various credit products.
15.2 16.1.1 Under this Agreement and a particular credit facility agreement the Bank is authorized (and not obliged) to disburse a credit (fully or partly) or service the client with any credit facility.
16.1.2 The client must fulfill/satisfy relevant precondition(s)/requirement(s) (if any) for the issuance of credit facility(ies) (including each tranche of the credit facility).
16.1.3 Proceeding from the circumstances listed in these subparagraphs (16.1.1 – 16.1.2), the Bank is authorized not to issue the credit facility(ies)/terminate the issuance of any tranche of the credit facility(ies) at its own discretion without explaining the reasons to the client (including in case a specific credit facility agreement is signed between the parties).
16.2 General provisions of the credit product are defined by this article, while specific conditions adreefined are defined and regulated by the agreement on the corresponding credit product concluded by the Parti.esAs a rule, other Parties. Other types of credit products product are issued generally under the agreement between the bank and the customer on the basis provision of the agreement concluded between the Bank and the client on credit product services,hiwch products which does not eliminate exclude the possibility to issue any of the credit product precuts directly on the basis of this Agreementagreement.
15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige 16.3 Customer must submit the Bank to disburse ta(cinrefudlil or any part thereof) or provide the Client with a credit service.
15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsio) np(recedent / requirement(s) (if any).
15.2.3 Considering events mentioned inSubparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason application to the Client (even if the Parties have concluded a particueladrit cfar cility agreement).
15.3 In bank in order to receive credit product, client must apply to the Bank with application (it is possible to receive some produyctssubmitting application via electronic communications±telephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the credit product (Bank several products are allowed to be received on the basis of application made via electronic means of communication (telephone, internet, electronic mail, and etc.)). The bank shall consider the application of the customer and shall decide whether to approve or deny the request for issuing the credit product (the bank is not obliged to state comment on the reason for-nisosnuancereasons of denial).
15.3.1 16.3.1 Client may, at any time, make a request through anreymote any remote channel/meansof means of electronic communication of the Bankfor Bank for receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid between the client and the bank and visit the Bank's branch / service center for taking the copy.
15.4 Upon receipt of 16.4 After receiving the credit product, client product the customer (debtorborrower) will shall be obliged to repay return it and to pay the interest profit in accordance with theopvrisions fee as per the conditions agreed with the Bankbank.
15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH 16.4.1 Interest is accrued to the Client’s outstanding liability towards the Bank and is calculated according to the actual days of use of the facility based on a 365 day calendar.
15.5 Monetary 16.5 The client’s financial obligations are generally performed by way of the client are secured as a rule by the amounts funds accumulated on his account (accountshis/her account(s).
15.6 If 16.6 In the event the client does not have settlement (current) accounthas no current account at the bank, applicoanti for issuing the application on credit product will be products shall at the same time considered be deemed as the application to on opening of a current account. The bank shall open the settlement (current) current account and such account will be opened for the client prior to issuing performing any of the credit productservices.
15.7 In order 16.7 The amount that is given to cover the bank by the customer/card owner to pay off the credit product by ht e client/card holder with or the amount transferred to the bank or with the existing amount on the card owner’s/customer’s account of card holder/client, first of all, shall be used to pay off insurance premium will be covered with first, then the aforementioned amount, afterwards the penalwtieillsbe covered surcharge for deal ying the payment term delays (if applicablesuch exist), afterwards interest profit will be covered the interest, and finally, the basic amount of credit willsbuebject to coverageprinciple. Client is entitling The customer shall authorize the Bank tobank on the following:
15.7.1 Amend 16.7.1 Change the rule prescribed by Paragraph5.17 given in the paragraph 16.7 of this Agreementagreement;
15.8 If 16.8 In the event of failure to pay monthly payment of amount is delayed, payments on time the client/card holder will the cardholder shall be obliged under obligation to pay the penalty to the Bank for delaybank the delayed payment fee, whichhmt icgomprise whether fixed or on daily basis, which amount shall be determined in accordance with tariffs existing at the bank at the time of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the moment of occurred delay.
15.9 Credit product will 16.9 Penalty shall not accrue late payment interest apply to credit product, if the day date of deposit depositing the amount (transferpayment) of amounts coincides with happens to be on the -nboannking non-banking day. In such this case, client will be liable to deposit the Client shall deposit payable amount (to pay) the payable sum to on the relevant account on ftohlelowing the next banking day.
15.10 16.10 In order to obtain the event the client/the cardholder does not cover the credit obtained through utilized credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit obtained from the Bank, deposited accrued interest, penalty fines (if applicableany), insurance premium within the term agreed with the bank or dooetspnay fails to pay on time any commission fee defined determined by the Bankbank, the Bank bank shall be entitledhave the right:
15.10.1 To secure 16.10.1 to satisfy its demand bayrresting claim by way of arresting bank accounts and/osrelling and/or realization of any assets of the clientclient’s/card holder the cardholder’s assets (this right does shall not limit in any manner restrict the right of the Bank arisen on the basis of bank under paragraph 3.2 of this Articleir)respective hereof), irrespective of whether the customer's obligation (bank's request) is secured with the right in rem (moretgmortgage, ag pledge). Besides, the bank is authorized, at its discretion, to execute in the first place a writ/payment of the asse tangdibinle asset and intangible property of the Customer, ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ RI WKH &XVWRPHU¶V OLDELOLWLHVwhich is not the object of a security of the Customer’s liabilities.
15.10.2 To demand from 16.10.2 to request at any time that the client/card holder any time the cardholder to conclude enter into a mortgage or pledge or mortgage agreement with the bank in order to cover secure the debts originated payment of liabilities incurred by using way of credit line (in such event the credit limit (In this case, client/card holder will be obliged to conclude the cardholder shall execute the relevant agreement with the Bank within in no later thanfi5vethan 5 (five) working days from the receipt of request. Subject to the request by the Bank, according to which agreement the client/card holder the cardholder shall secure mortgage or pledge the property subject to be received bByathnek by mortgage or pledgetransfer of title thereupon to the bank, the which shall not have a value less than aggregate amount of which must not be less than the total sum of used utilized credit producetpproduct, odsited accrued interest and fines and shall provide the penalty. The client/card holder shall register the rights registrations of the Bank in relevant bank’s rights at the public registry. Expenses associated with the conclusion for execution of the agreement (agreementsagreement(s) andgitshterartieon and registrations of rights, originated from the Agreement, in the registry will relevant rights shall be carried borne by the client/card holderthe cardholder);
15.10.3 To request 16.10.3 Require to be transferred the transfer object of mortgage and/or pledge and/or mortgage object and after the such transfer, to alienate assign the object of mortgage and/or pledge and/or mortgagteboybdjeircect selling through direct sale or in any other rules manner prescribed by the Civil Code of Georgia, and aftecrovering after payment of all the necessary expenses for realizationcosts related to sale, to use the received obtained amount to cover the for disbursement of funds under credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G on funds obtained from the sale of the object of pledge cannot fully pay the xxxxxxxx’s indebtedness, the bank may apply execution upon any client’s/xxxxxxxx’s property (any thing and intangible property of the client/debtor.);
15.11 16.11 In case of delay of payment of monthly amount, interest profit, penalty or insurance premium by the client/debtorthe borrower fails to pay monthly payments, also sinecoaf improper and untimely fulfillment (violation) accrued interest, fines or insurance premiums on time or in the event of any pre-condition, additional condition, requirement of other material grounds the Bank towards bank shall have the client and/or any obligation undertaken by the client or in case of other significant basis, the Bank shall be authorized right to terminate independently unilaterally the credit relation/oarnrdelevant and/or the relevant agreement and/or demand from and request the client/debtor to return the credit product in addition to other due fees borrower payment of all outstanding credits together with associated payables (interest profitinterests, penalty and otherfines, etc.).
15.12 16.12 To apply for early repayment and/or early termination of a bank credit (credit, loan), credit line, overdraft, creldimit it and credit limit and/or any credit facility product under any agreement made with the Client/Borrower, (hereinafter UHIHUUHG WR DV WKH ³&UHGLW´- 15I.17R) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnIt/th e3BoDrrUowDeJr(inUcluDdSingKfVull referred to as the “Credit” for the purposes of Articles 16.12-16.17), including full or p art ia l partial prepayment and/or refinancing of the credit),the credit, the Client/the Borrower shall submit to theBank the Bank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ electronically). The Bank will satisfy the Client’s/the Borrower’s application on the day it is received (provided there are sufficient funds in the Client’s/the Borrower’s account(s)), or on the following banking day if the Client’s/the Borrower’s application was filed during non-banking hours. Despite the aforementioned, the Bank may satisfy t&heOLHQW¶V WKH %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ the Client’s/the Borrower’s application within 5 (five) calendar days of receipt due to various (including, technical) reasons and/or for the need to establish some faFcrtosmfacts. Provided there are sufficient funds in the Client’s/the Borrower’s account(s), from the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anVthe Client’s/the Borrower’s application until full or partial prepayment of the loan, t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX the credit will not accrue interest. Furthermore, in cases stipulated by the law, when prepaying fully or partially on a credit (in excess of 2 000 000 GEL eoqr uitisvalent or its equivalent in foreign currency) theClientthe Client/the Borrower may shall submit a resepctive respective application to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl accrual on the credit until the credit is fully or partially prepaid.
15.13 16.13 In case of prepayment of thepart the part of the loan, the bank shall be authorized to unilaterally change the payment schedule (draft a new schedule)) of payment of the loan, in which case, the Client/borrower shall become obliged to pay off the loan according to the new schedule of the bank. The new schedule shall be drpawoneuof drawn up one of the following principle: 1)the payable amount(principal amount (remainder of the credit) will be equally distributed over the remainingriopde remaining period until the loan is fully repaid repaid; or 2) the period, remaining till full repayment of the credit will be reduecd reduced and the amount, payable in periodicity, envisaged by the schedule will remain unchanged.
15.14 16.14 In case the event of presenting submission of application to cover on advance payment, the credit in advance to the Bank, client/debtor the borrower shall be obliged under obligation to present athnek Bwith any further supply the bank with all necessary information/document, which documents directly or indirectly provides opportunity proving with the ability to establish determine the fact of credit refinancing or rejects absence of other refinancing arrangements.
16.15 In the event the agreement provides for refinancing fees and the bank suspects the fact of credit refinancing.
15.15 In casea possible refinancing of such credit, if the relevant credit conditions foresee the commission fee for refinancing and the Bank bank shall have a douatbt,hethrefinancing is taking place, the Bank shall be authorized after receiving the application of right to request at any time from the client/debtor regarding the advance payment borrower the delivery of the c, rteodirtequest the client additionally to present any kind of information/document related with credit rfeinancing documents within no later than 2 (two) banking days from the date of the requestreceipt of the client’s/the borrower’s application of advance payment of the credit.
15.16 Credit refinancing 16.16 Refinancing of the credit shall include mean advance repayment (payment (prior to before the agreed term) of the credit at JSC “TBC bank” carried out directly and/or indirectly, independently andw/oitrh the help of personally and/or through other person (personsperson(s) by way of the cerdit funds obtained directly and/or indirectly, personally and/or through other person(s) from TBC Bank with the amount issued by any other financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(personsentities).
15.17 Partiesagree, that16.17 The parties hereby agree on the following:
15.17.1 Bank is 16.17.1 the bank shall not obliged be under obligation to prove the fact of refinancing and it has a right, upon receipt of information on cred-itfirneancing by any information sources, shall have the right to make a decision on imposing imposition of the refinancing fee and/or relevant commission fee and/or penalty on to the client/de,bmtoeraning that the borrower on the basis of information held by the bank derived from any kind of source whatsoever. The client/the borrower shall bear the burden of proof related with on the no-nexistence absence of the refinancing;
16.17.2 fees and/or commissions on refinancing fact is upon and advance repayment shall be determined by the agreement(s) executed between the parties;
16.17.3 in the event the client/debtor;
15.17.2 Amount the borrower proves the non-existence of advance payment and r-efinancing commission fee and/or penalty is determined by refinancing through the agreement (agreements) concluded with court, the bank shall be under obligation to reimburse to the client/debtor;
15.17.3 In case, if client/debtor proves the no-nexistence borrower solely the commissions and/or fees deducted without authorization of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the borrower. The client/the borrower hereby waives his/her right of claim in connection with the damage caused by nthkeaBctaivities occurred as a result of the bank’s actions (by violating in breach of the bank’s obligations undertaken with this Agreementhereunder).
15.18 16.18 In case, if the Bank demands event the bank request the client a submission of an insurance poli(cwyith policy(with conditions set by the bankBank) by in connection with the client to use of a credit product, the client/card holder will the cardholder shall be obligedunder obligation:
15.18.1 16.18.1 Take out insurance withan with an insurance company approved by the Bank, Bank ,at rates/terms set by this company;
15.18.2 To implement 16.18.2 to carry out the insurance in accordance with the conditions requested by requirements of the Bank.bank;
15.18.3 To ensure 16.18.3 to indicate the naming of Bank bank as the only a sole beneficiary in the insurance policy.
15.18.4 16.18.4 If the term of the insurance policy is less the term of this Agreement/ additional agreement(s), submit to the Bank a renewed insuroalniccye npot insurance policy not later than within 14 (fourteen) calendar days before the date of expiry of the existing insurance policy.
15.18.5 16.18.5 Pay the insurance premium and/or other related fees in the amount charged by the insurance company approved by the Bank. The payment of the insurance premium and/or other related fees is a mandatory payment related to the bank facility (including, a credit fa)cailintyd facility) and without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft amount of the insurance premium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce the insurance policy.
15.19 16.19 In case, if the event the client/card holder does not the cardholder fails to pay the insurance premium/premium/ insurance fee in accordance with according to the rule terms and timeframsecrpibred by conditions of this Agreement/agreement/ additional agreement(s) and/or the insurance policypolicy such failure shall be deemed as a delayed payment.
16.20 With the purpose of the Client's commitments guarantee, as well as the insurance continuity guarantee and/or in case of violation of commitments regarding insurance issues, the debt shall be considered delayed.Borrower:
15.20 In case of essential worsening 16.20.1 Agrees in advance to implement any activities related to the replacement of the insurance conditions company upon the Bank’s requirement, terminate or increase renew insurance relations/agreement with the insurance company ;
16.20.2 Authorizes the Bank to process (including the provision for the insurance company in relevant time periods) information containing the Client’s personal data for the purpose of relations with insurance tariffs, companies;
16.21 The client/card holder shall hraigvhet ato express the intention in writing cardholder hereby consents to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding the annulment right of the requirement of obligatory insurance by applying its own credit principles and rules.
15.21 Client/card holder agrees, that the Bank shall bank to deduct monthly insurance premium for the benefit of the insurer (insurancepcaonmy) fromany from any account of the client/card holder the cardholder the insurance premium in accordance with the rules envisaged by paragraph 3.2 of this Agreement.
15.22 The client grants the bank an unconditional right to provide the guarantor(s) and/or any persons, whose property acts asescthuerity for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR the Bank and the client (including the bank loan agreement).
15.23 TBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxx, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures and terms envisaged by the Georgian legislDataiotan.described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Ls) QcoHnnVeVcte d DtoQCGIB , inZLOO EH compliance with rules envisaged by the Georgian legislation. At the request of the Cliehnet, Dt ata Processor is obliged to correct, update, complete, block, delete or destroy the data if they are incomplete, inaccurate, outdated, or were collected and processed unlawfully
15.24 Bank has a right to request and receive any personal information aboutctlhieent held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding credit repayment).
15.25 If the client violates obligations undertaken by any agreement with the Bank or this will be necessary due to business rteiopnutoaf the Bank and/or protection of legal interests, Bank shall have a right to transfer to the court/arbitration/National Enfeomrcent Bureau and/or use the information about client, as well as any document signed by the client.conditions stipulated under paragraph
Appears in 1 contract
Samples: Banking Operations Agreement
GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on 16.1 On the basis of this agreement, client agreement the client/the cardholder is entitled to use various the following citrepdroducts: simple consumer and student loans, prompt installment, credit limit permitted on plastic card or overdraft, installment card andcredit card ¯Ertguli_and other credit products.
15.2 16.2 Each credit product listed in the paragraph 16.1 of this agreemt eisndescribed in corresponding section of this agreement. General provisions of the credit product are defined by this article, while specific conditions adreefined are defined and regulated by the agreement on the corresponding credit product concluded by the Parti.esAs a rule, other Parties. Other types of credit products product are issued generally under the agreement between the bank and the customer on the basis provision of the agreement concluded between the Bank and the client on credit product services,hiwch products which does not eliminate exclude the possibility to issue any of the credit product precuts directly on the basis of this Agreementeaegmr ent.
15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige 16.3 Customer must submit the Bank to disburse ta(cinrefudlil or any part thereof) or provide the Client with a credit service.
15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsio) np(recedent / requirement(s) (if any).
15.2.3 Considering events mentioned inSubparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason application to the Client (even if the Parties have concluded a particueladrit cfar cility agreement).
15.3 In bank in order to receive credit product, client must apply to the Bank with application (it is possible to receive some produyctssubmitting application via electronic communications±telephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the credit product (Bank several products are allowed to be received on the basis of application made via electronic means of communication (telephone, internet, electronic mail, and tce.)). The bank shall consider the application of the customer and shall decide whether to approve or deny the request for issuing the credit product (the bank is not obliged to state comment on the reason for-nisosnuancereasons of denial).
15.3.1 16.3.1 Client may, at any time, make a request through anreymote tohur gh any remote channel/meansof electronic communication of the Bankfor receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid between the client and the bank and visit the BanktheBank's branch / service center for taking the copy.
15.4 Upon receipt of 16.4 After receiving the credit product, client product the customer (debtorborrower) will shall be obliged to repay return it and to pay the interest profit in accordance with theopvrisions fee as per the conditions agreed with the Bankbank.
15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH 365 day calendar.
15.5 Monetary 16.5 The client’s financial obligations are generally performed by way of the client are secured as a rule by funds accumulatedhoisn/her account(s)
16.6 In the amounts accumulated on his account (accounts).
15.6 If event the client does not have settlement (current) accounthas no current account at the bank, applicoanti for issuing the application on credit product will be products shall at the same time considered be deemed as the application to on opening ocf uarrent account. The bank shall open the settlement (current) current account and such account will be opened for the client prior to issuing performing any of the credit productservices.
15.7 In order 16.7 The amount that is given to cover the bank by the customer/card owner to pay off the credit product by ht e client/card holder with or the amount transferred to DPRXQW H[LVWLQJ RVQWRWPKHHU¶FVDUDGFFRRZXQQHWU¶VVKDFOXO EH XVHG WR first, then the bank or with the existing amount on the account of card holder/client, first of all, insurance premium will be covered with the aforementioned amount, afterwards the penalwtieillsbe covered surcharge for deal ying the payment term delays (if applicablesuch exist), afterwards interest profit will be covered the interest, and finally, the basic amount of credit willsbuebject to coverageprinciple. Client is entitling The customer shall authorize the Bank tobank on the following:
15.7.1 Amend 16.7.1 Change the rule prescribed by Paragraph5.17 of given in the paragraph 16o.7f this Agreementagreement;
15.8 If 16.7.2 Bank shall determine the sequence (priority) of implementation of obligations by the customer at its own discretion, namely the bank can unilaterally decide on what sum (amount) and which indebtedness is to be paid off by the customerromf the amount(s) given to the bank by the FXVWRPHU FDUG RZQHU RU WKH DPRXQW V RQ WKH FDUG FXVWRPHU ZLOO JUDQW WKH EDQN WKH DXWKRULW\ WR GH (priority) of implementation of obligations by the customer.
16.8 In the event of failure to pay monthly payment of amount is delayed, payments on time the client/card holder will the cardholder shall be obliged under obligation to pay the penalty to the Bank for delaybank the delayed payment fee, whichhmt icgomprise whether fixed or on daily basis, which amount shall be determined in accordance with tariffs existing at the bank at the time of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the moment of occurred delay.
15.9 Credit product will 16.9 Penalty shall not accrue late payment interest apply to credit product, if the day date of deposit depositing the amount (transferpayment) of amounts coincides with happens to be on the -nboannking non-banking day. In such this case, client will be liable to depsoit the Client shall deposit payable amount (to pay) the payable sum to on the relevant account on ftohlelowing the next banking day.
15.10 16.10 In order to obtain the event the client/the cardholder does not cover the credit obtained through utilized credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit obtained from the Bank, deposited accrued interest, penalty fines (if applicableany), insurance premium within the termagreed with the bank or dooetspnay fails to pay on time any commission fee defined determined by the Bankbank, the Bank bank shall be entitledhave the right:
15.10.1 To secure its demand bayrresting bank accounts and/osrelling any assets of the client/card holder (this right does not limit the right of the Bank arisen on the basis of 16.10.1 WR VDWLVI\ LWV FODLP E\ ZD\ RI DUUHVWLQJ EDQN DFF FDUGKROGHU¶V DVnVotHinWanVy manWneKr rLesVtrictUthLe rJighKt Wof thVe bKaDnkOunOder paragraph 3.2 of this Articleir)respective hereof), irrespective of whether the customer's obligation (bank's request) is secured with the right in rem (moretgmortgage, ag pledge). Besides, the bank is authorized, at its discretion, to execute in tocuetexein the first place a writ/payment of the asse tangdibinle asset and intangible property of the Customer, ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ which is not the object of a security RI WKH &XVWRPHU¶V OLDELOLWLHV
15.10.2 To demand from 16.10.2 to request at any time that the client/card holder any time the cardholder to conclude enter into a mortgage or pledge or mortgage agreement aegmrent with the bank in order to cover secure the debts originated payment of liabilities incurred by using way of credit line (in such event the credit limit (In this case, client/card holder will be obliged to conclude the cardholder shall execute the relevant agreement with the Bank within in no later thanfi5vethan 5 (five) working days from the receipt request. Subject to the agreemetnhte client/the cardholder shall mortgage or pledge the property subject to transfer of title thereupon to the bank, which shall not have a value less than aggregate amount of utilized credit product, accrued interest and fines and shall provide the rergaitsiot ns of the request by bank’s rights at the Bank, according to which the client/card holder shall secure the property to be received bByathnek by mortgage or pledge, the amount of which must not be less than the total sum of used credit producetp, odsited interest and the penaltypublicregistry. The client/card holder shall register the rights Expenses for execution of the Bank in agreement(s) and registrations of relevant registry. Expenses associated with the conclusion of the agreement (agreements) andgitshterartieon of rights, originated from the Agreement, in the registry will rights shall be carried borne by the client/card holderthe cardholder);
15.10.3 To request 16.10.3 Require to be transferred the transfer object of mortgage and/or pledge and/or mortgage object and after sturacnhsfer, assign the transfer, to alienate the object of mortgage and/or pledge and/or mortgagteboybdjeircect selling through direct sale or in any other rules manner prescribed by the Civil Code of Georgia, and aftecrovering after payment of all the necessary expenses for realizationcosts related to sale, to use the received obtained amount to cover the for disbursement of funds under credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G on funds obtained from the sale of the object of pledge cannot fully pay the borrower’s indebtedness, the bank may appelyxecution upon any clien’ts/borrower’s property (any thing and intangible property of theclient);
16.11 In case the client/debtor.
15.11 In case of delay of payment of the borrower af ils to pay monthly amountpayments, interest profitaccrued interest, penalty fines or insurance premium by premiums on time or in the event of any other material grounds the bank shall have the right to terminate unilaterally the credit and/or the relevant agreement and request the client/debtortherrboower payment of all outstanding credits together with associated payables (interests, also sinecoaf improper and untimely fulfillment (violation) of any pre-conditionfines, additional condition, requirement of the Bank towards the client and/or any obligation undertaken by the client or in case of other significant basis, the Bank shall be authorized to terminate independently the credit relation/oarnrdelevant agreement and/or demand from the client/debtor to return the credit product in addition to other due fees (interest profit, penalty and otheretc.).
15.12 To apply 16.12 Registration or/and cancellation of any request for early repayment and/or early termination before due date as specified in the relevant repayment schedule of the mortgage credit, counmser loan or/and motor credit (hereinafter referred to as the Credit for the purposes of paragraphs 16±.1126.17 of this Agreement) (including repayment of the Credit before due date either in full or in part or/and refinancing thereof) shall be made byfiling by the Client/Borrower of a bank credit written application (loan), credit line, overdraft, creldimit it and any credit facility (hereinafter UHIHUUHG WR DV hard copy or soft copy) to the Bank. 7KH &OLHQW¶V %RUURZHU¶V DSSOLFDWLRQ LV IXOILOOHG E DYDLODEOH DW WKH ³&UHGLW´- 15I.17R) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnIt/th e3BoDrrUowDeJr(inUcluDdSingKfVull or p art ia l prepayment and/or refinancing of &OLHQW¶Ve t%heRaUppUlicRatZionHiUs ¶reVceiveDd ForFthReXnQexWt V R business day if the credit),the application was filed by the Client/the Borrower shall submit to theBank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ n-obnusiness hours). Despite the aforementionedHowever, the Bank may satisfy t&heOLHQW¶V WKH by various reasons (including technical ones) or/and in order to verify certain facts, fulfill the ClieQW¶V %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ ILYH FD 'XULQJ WKH SHULRG IURP WKH GDWH RI UHFHLSW RI WKH VXIILFLHQW IXQGV DYDLODEOH tDill Wthe WeaKrlyHrepa&yOmeLntHdQatWe ¶ofVthe %RUURZH Credit (includingeither in full or in part), technical) reasons and/or for no interest will be charged to the need to establish some faFcrtosmCredit. the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anV, t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX Furthermore, in some cases stipulated as provided for by the law, when prepaying fully or partially on a credit repaying the loan (in excess an amount of which exceeds 2 000 000 GEL eoqr uitisvalent or its equivalent in foreign currencycurrencies) theClientbefore due date either in full or in part, the Client/the Borrower may submit a resepctive application shall be liable to apply to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl the credit until the credit is fully or partially prepaid.expected xxxxxxx.xxxx
15.13 16.13 In case of prepayment of thepart the part of the loan, the bank shall be authorized to authodrizteo unilaterally change the payment schedule (draft a new schedule)) of payment of the loan, in which case, the Client/borrower shall become obliged to pay off the loan according to the new schedule of the bank. The new schedule shall be drpawoneuof drawn up one of the following principle: 1)the payable amount(principal amoun(pt rincipal amount (remainder of the credit) will be equally distributed over the remainingriopde remaining period until the loan is fully repaid repaid; or 2) the 2t)he period, remaining till full repayment of the credit will be reduecd reduced and the amountamonut, payable in periodicity, envisaged by the schedule will remain unchanged.
15.14 16.14 In case the event of presenting submission of application to cover on advance payment, the credit in advance to the Bank, client/debtor the borrower shall be obliged under obligation to present athnek Bwith any further supply the bank with all necessary information/document, which documetsn directly or indirectly provides opportunity proving with the ability to establish determine the fact of credit refinancing or rejects absence of other refinancing arrangements.
16.15 In the event the agreement provides for refinancing fees and the bank suspects the fact of credit refinancing.
15.15 In casea possible refinancing of suchcredit, if the relevant credit conditions foresee the commission fee for refinancing and the Bank bank shall have a douatbt,hethrefinancing is taking place, the Bank shall be authorized after receiving the application of right to request at any time from the client/debtor regarding the advance payment borrower the delivery of the c, rteodirtequest the client additionally to present any kind of information/document related with credit rfeinancing documents within no later than 2 (two) banking days from the date of the requestreceipt of the clien’st /the borrower’s application ofadvance payment of the credit.
15.16 Credit refinancing 16.16 Refinancing of the credit shall include mean advance repayment (payment (prior to before the agreed term) of the credit at JSC¯TBC bank_carried out directly and/or indirectly, independently andw/oitrh the help of other person (personspersonally and/or throughother person(s) by way of the cerdit obtained fundsobtained directly and/or indirectly, personally and/or through other person(s) from TBC Bank with the amount issued by any other financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(personsentities).
15.17 Partiesagree, that16.17 The parties hereby agree on the following:
15.17.1 Bank is not obliged 16.17.1 the bank shallnot be under obligation to prove the fact of refinancing and it has a right, upon receipt of information on cred-itfirneancing by any information sources, shall have the right to make a decision on imposing imposition of the refinancing fee and/or relevant commission fee and/or penalty on to the client/de,bmtoeraning that the borrower on the basis of information held by the bank derived from any kinodf source whatsoever. The client/the borrower shall bear the burden of proof related with on the no-nexistence absence of the refinancing;
16.17.2 fees and/or commissions on refinancing fact is upon and advance repayment shall be determined by the agreement(s) executed between the parties;
16.17.3 in the event the client/debtor;
15.17.2 Amount the borrower proves the non-existence of advance payment and r-efinancing commission fee and/or penalty is determined by refinancing through the agreement (agreements) concluded with court, the bank shall be under obligation to reimburse to the client/debtor;
15.17.3 In case, if client/debtor proves the no-nexistence borrower solely the commissions and/or fees deducted without authorization of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the borrower. Tehclient/the borrower hereby waives his/her right of claim in connection with the damage caused by nthkeaBctaivities occurred as a result of the ba’snkactions (by violating in breach of the bank’s obligations undertaken with this Agreementhereunder).
15.18 16.18 In case, if the Bank demands insurance poli(cwyith conditions set by event the bank) by bank request the client to a submission of an insurance pyoliinc connection with the use of a credit product, the client/card holder will the cardholder shall be obligedunder obligation:
15.18.1 Take out 16.18.1 to execute an insurance withan insurance company approved by agreement with any person acceptable to the Bank, at rates/terms set by this companybank in accordance with th-e pre determined conditions and tariffs of such provider;
15.18.2 To implement 16.18.2 to carry out the insurance in accordance with the conditions requested by requirements of the Bank.bank;
15.18.3 To ensure 16.18.3 to indicate the naming of Bank bank as the only a sole beneficiary in the insurance policy.
15.18.4 If 16.19 In the term of event the insurance policy is less client/the term of this Agreement/ additional agreement(s), submit cardholder fails to the Bank a renewed insuroalniccye npot later than within 14 (fourteen) calendar days before the date of expiry of the existing insurance policy.
15.18.5 Pay pay the insurance premium according to the terms and conditions of this agreement such failure shall be deemed as a delayed payment.
16.20 With the purpose of the Client's commitments guarantee, as well as thinesurance continuity guarantee and/or in case of violation of commitments regarding insurance issues, the Borronwer i advance agrees to announce the full authority of the Bank:
16.20.1 To act on behalf of the Client and at his/her expense, respectively, with this purpose, to have relations with third parties (including insurance companies) on behalf of the Client and at his/hexrpense; to FDUU\ RXW DQ\ DFWLRQ UHODWHG WR WKH ,QVXUHU¶V FKDQ DJUHHPHQWV ZLWK WKH ,QVXUHU FRQQHFWHG ZLWK WKH %D for the insurance company in relevanWt LPH SHULRGV LQIRUPDWLRQ FRQWDLQL for the purpose of relations with insurance companies; to enter into and / or to sign any deal, notice, and / or any other document. The implementation of the mentioned rights by the Bank dsoneot depend on any additional consent/agreement and/or Letter of Attorney from the Client, and this right can not be restricted upon relations with third parties (including insurance companies), in case of this right implementation by the Bank, the Clientshall be obliged to pay Insurance Premium and / or other related fees in charges of the amount charged amount, set by the insurance company approved company, selected by the Bank. .
16.21 The payment client/the cardholder hereby consents to the right of the insurance premium and/or other related fees is a mandatory payment related bank to the bank facility (including, a credit fa)cailintyd without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft the insurance premium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce policy
15.19 In case, if the client/card holder does not pay insurance premium/insurance fee in accordance with the rule and timeframsecrpibred by this Agreement/additional agreement(s) and/or the insurance policy, the debt shall be considered delayed.
15.20 In case of essential worsening of the insurance conditions or increase of insurance tariffs, client/card holder shall hraigvhet ato express the intention in writing to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding the annulment of the requirement of obligatory insurance by applying its own credit principles and rules.
15.21 Client/card holder agrees, that the Bank shall deduct monthly insurance premium for the benefit of the insurer (insurancepcaonmy) fromany from any account of the client/card holder the cardholder the insurance premium in accordance with the rules envisaged by paragraph 3.2 of this Agreement.
15.22 The client grants the bank an unconditional right to provide the guarantor(s) and/or any persons, whose property acts asescthuerity for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR the Bank and the client (including the bank loan agreement).
15.23 TBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxx, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures and terms envisaged by the Georgian legislDataiotan.described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Ls) QcoHnnVeVcte d DtoQCGIB , inZLOO EH compliance with rules envisaged by the Georgian legislation. At the request of the Cliehnet, Dt ata Processor is obliged to correct, update, complete, block, delete or destroy the data if they are incomplete, inaccurate, outdated, or were collected and processed unlawfully
15.24 Bank has a right to request and receive any personal information aboutctlhieent held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding credit repayment).
15.25 If the client violates obligations undertaken by any agreement with the Bank or this will be necessary due to business rteiopnutoaf the Bank and/or protection of legal interests, Bank shall have a right to transfer to the court/arbitration/National Enfeomrcent Bureau and/or use the information about client, as well as any document signed by the client.conditions stipulated under paragraph
Appears in 1 contract
Samples: Banking Operations Agreement
GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on 16.1 On the basis of this agreement, client agreement the client/the cardholder is entitled to use various credit products.
15.2 16.1.1 Under this Agreement and a particular credit facility agreement the Bank is authorized (and not obliged) to disburse a credit (fully or partly) or service the client with any credit facility.
16.1.2 The client must fulfill/satisfy relevant precondition(s)/requirement(s) (if any) for the issuance of credit facility(ies) (including each tranche of the credit facility).
16.1.3 Proceeding from the circumstances listed in these subparagraphs (16.1.1 – 16.1.2), the Bank is authorized not to issue the credit facility(ies)/terminate the issuance of any tranche of the credit facility(ies) at its own discretion without explaining the reasons to the client (including in case a specific credit facility agreement is signed between the parties).
16.2 General provisions of the credit product are defined by this article, while specific conditions adreefined are defined and regulated by the agreement on the corresponding credit product concluded by the Parti.esAs a rule, other Parties. Other types of credit products product are issued generally under the agreement between the bank and the customer on the basis provision of the agreement concluded between the Bank and the client on credit product services,hiwch products which does not eliminate exclude the possibility to issue any of the credit product precuts directly on the basis of this Agreementagreement.
15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige 16.3 Customer must submit the Bank to disburse ta(cinrefudlil or any part thereof) or provide the Client with a credit service.
15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsio) np(recedent / requirement(s) (if any).
15.2.3 Considering events mentioned inSubparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason application to the Client (even if the Parties have concluded a particueladrit cfar cility agreement).
15.3 In bank in order to receive credit product, client must apply to the Bank with application (it is possible to receive some produyctssubmitting application via electronic communications±telephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the credit product (Bank several products are allowed to be received on the basis of application made via electronic means of communication (telephone, internet, electronic mail, and etc.)). The bank shall consider the application of the customer and shall decide whether to approve or deny the request for issuing the credit product (the bank is not obliged to state comment on the reason for-nisosnuancereasons of denial).
15.3.1 16.3.1 Client may, at any time, make a request through anreymote any remote channel/meansof means of electronic communication of the Bankfor Bank for receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid between the client and the bank and visit the Bank's branch / service center for taking the copy.
15.4 Upon receipt of 16.4 After receiving the credit product, client product the customer (debtorborrower) will shall be obliged to repay return it and to pay the interest profit in accordance with theopvrisions fee as per the conditions agreed with the Bankbank.
15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH 16.4.1 Interest is accrued to the Client’s outstanding liability towards the Bank and is calculated according to the actual days of use of the facility based on a 365 day calendar.
15.5 Monetary 16.5 The client’s financial obligations are generally performed by way of the client are secured as a rule by the amounts funds accumulated on his account (accountshis/her account(s).
15.6 If 16.6 In the event the client does not have settlement (current) accounthas no current account at the bank, applicoanti for issuing the application on credit product will be products shall at the same time considered be deemed as the application to on opening of a current account. The bank shall open the settlement (current) current account and such account will be opened for the client prior to issuing performing any of the credit productservices.
15.7 In order 16.7 The amount that is given to cover the bank by the customer/card owner to pay off the credit product by ht e client/card holder with or the amount transferred to the bank or with the existing amount on the card owner’s/customer’s account of card holder/client, first of all, shall be used to pay off insurance premium will be covered with first, then the aforementioned amount, afterwards the penalwtieillsbe covered surcharge for deal ying the payment term delays (if applicablesuch exist), afterwards interest profit will be covered the interest, and finally, the basic amount of credit willsbuebject to coverageprinciple. Client is entitling The customer shall authorize the Bank tobank on the following:
15.7.1 Amend 16.7.1 Change the rule prescribed by Paragraph5.17 given in the paragraph 16.7 of this Agreementagreement;
15.8 If 16.8 In the event of failure to pay monthly payment of amount is delayed, payments on time the client/card holder will the cardholder shall be obliged under obligation to pay the penalty to the Bank for delaybank the delayed payment fee, whichhmt icgomprise whether fixed or on daily basis, which amount shall be determined in accordance with tariffs existing at the bank at the time of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the moment of occurred delay.
15.9 Credit product will 16.9 Penalty shall not accrue late payment interest apply to credit product, if the day date of deposit depositing the amount (transferpayment) of amounts coincides with happens to be on the -nboannking non-banking day. In such this case, client will be liable to deposit the Client shall deposit payable amount (to pay) the payable sum to on the relevant account on ftohlelowing the next banking day.
15.10 16.10 In order to obtain the event the client/the cardholder does not cover the credit obtained through utilized credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit obtained from the Bank, deposited accrued interest, penalty fines (if applicableany), insurance premium within the term agreed with the bank or dooetspnay fails to pay on time any commission fee defined determined by the Bankbank, the Bank bank shall be entitledhave the right:
15.10.1 To secure 16.10.1 to satisfy its demand bayrresting claim by way of arresting bank accounts and/osrelling and/or realization of any assets of the clientclient’s/card holder the cardholder’s assets (this right does shall not limit in any manner restrict the right of the Bank arisen on the basis of bank under paragraph 3.2 of this Articleir)respective hereof), irrespective of whether the customer's obligation (bank's request) is secured with the right in rem (moretgmortgage, ag pledge). Besides, the bank is authorized, at its discretion, to execute in the first place a writ/payment of the asse tangdibinle asset and intangible property of the Customer, ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ RI WKH &XVWRPHU¶V OLDELOLWLHVwhich is not the object of a security of the Customer’s liabilities.
15.10.2 To demand from 16.10.2 to request at any time that the client/card holder any time the cardholder to conclude enter into a mortgage or pledge or mortgage agreement with the bank in order to cover secure the debts originated payment of liabilities incurred by using way of credit line (in such event the credit limit (In this case, client/card holder will be obliged to conclude the cardholder shall execute the relevant agreement with the Bank within in no later thanfi5vethan 5 (five) working days from the receipt of request. Subject to the request by the Bank, according to which agreement the client/card holder the cardholder shall secure mortgage or pledge the property subject to be received bByathnek by mortgage or pledgetransfer of title thereupon to the bank, the which shall not have a value less than aggregate amount of which must not be less than the total sum of used utilized credit producetpproduct, odsited accrued interest and fines and shall provide the penalty. The client/card holder shall register the rights registrations of the Bank in relevant bank’s rights at the public registry. Expenses associated with the conclusion for execution of the agreement (agreementsagreement(s) andgitshterartieon and registrations of rights, originated from the Agreement, in the registry will relevant rights shall be carried borne by the client/card holderthe cardholder);
15.10.3 To request 16.10.3 Require to be transferred the transfer object of mortgage and/or pledge and/or mortgage object and after the such transfer, to alienate assign the object of mortgage and/or pledge and/or mortgagteboybdjeircect selling through direct sale or in any other rules manner prescribed by the Civil Code of Georgia, and aftecrovering after payment of all the necessary expenses for realizationcosts related to sale, to use the received obtained amount to cover the for disbursement of funds under credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G on funds obtained from the sale of the object of pledge cannot fully pay the borrower’s indebtedness, the bank may apply execution upon any client’s/borrower’s property (any thing and intangible property of the client/debtor.);
15.11 16.11 In case of delay of payment of monthly amount, interest profit, penalty or insurance premium by the client/debtorthe borrower fails to pay monthly payments, also sinecoaf improper and untimely fulfillment (violation) accrued interest, fines or insurance premiums on time or in the event of any pre-condition, additional condition, requirement of other material grounds the Bank towards bank shall have the client and/or any obligation undertaken by the client or in case of other significant basis, the Bank shall be authorized right to terminate independently unilaterally the credit relation/oarnrdelevant and/or the relevant agreement and/or demand from and request the client/debtor to return the credit product in addition to other due fees borrower payment of all outstanding credits together with associated payables (interest profitinterests, penalty and otherfines, etc.).
15.12 16.12 To apply for early repayment and/or early termination of a bank credit (credit, loan), credit line, overdraft, creldimit it and credit limit and/or any credit facility product under any agreement made with the Client/Borrower, (hereinafter UHIHUUHG WR DV WKH ³&UHGLW´- 15I.17R) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnIt/th e3BoDrrUowDeJr(inUcluDdSingKfVull referred to as the “Credit” for the purposes of Articles 16.12- 16.17), including full or p art ia l partial prepayment and/or refinancing of the credit),the credit, the Client/the Borrower shall submit to theBank the Bank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ electronically). The Bank will satisfy the Client’s/the Borrower’s application on the day it is received (provided there are sufficient funds in the Client’s/the Borrower’s account(s)), or on the following banking day if the Client’s/the Borrower’s application was filed during non-banking hours. Despite the aforementioned, the Bank may satisfy t&heOLHQW¶V WKH %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ the Client’s/the Borrower’s application within 5 (five) calendar days of receipt due to various (including, technical) reasons and/or for the need to establish some faFcrtosmfacts. Provided there are sufficient funds in the Client’s/the Borrower’s account(s), from the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anVthe Client’s/the Borrower’s application until full or partial prepayment of the loan, t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX the credit will not accrue interest. Furthermore, in cases stipulated by the law, when prepaying fully or partially on a credit (in excess of 2 000 000 GEL eoqr uitisvalent or its equivalent in foreign currency) theClientthe Client/the Borrower may shall submit a resepctive respective application to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl accrual on the credit until the credit is fully or partially prepaid.
15.13 16.13 In case of prepayment of thepart the part of the loan, the bank shall be authorized to unilaterally change the payment schedule (draft a new schedule)) of payment of the loan, in which case, the Client/borrower shall become obliged to pay off the loan according to the new schedule of the bank. The new schedule shall be drpawoneuof drawn up one of the following principle: 1)the payable amount(principal amount (remainder of the credit) will be equally distributed over the remainingriopde remaining period until the loan is fully repaid repaid; or 2) the period, remaining till full repayment of the credit will be reduecd reduced and the amount, payable in periodicity, envisaged by the schedule will remain unchanged.
15.14 16.14 In case the event of presenting submission of application to cover on advance payment, the credit in advance to the Bank, client/debtor the borrower shall be obliged under obligation to present athnek Bwith any further supply the bank with all necessary information/document, which documents directly or indirectly provides opportunity proving with the ability to establish determine the fact of credit refinancing or rejects absence of other refinancing arrangements.
16.15 In the event the agreement provides for refinancing fees and the bank suspects the fact of credit refinancing.
15.15 In casea possible refinancing of such credit, if the relevant credit conditions foresee the commission fee for refinancing and the Bank bank shall have a douatbt,hethrefinancing is taking place, the Bank shall be authorized after receiving the application of right to request at any time from the client/debtor regarding the advance payment borrower the delivery of the c, rteodirtequest the client additionally to present any kind of information/document related with credit rfeinancing documents within no later than 2 (two) banking days from the date of the requestreceipt of the client’s/the borrower’s application of advance payment of the credit.
15.16 Credit refinancing 16.16 Refinancing of the credit shall include mean advance repayment (payment (prior to before the agreed term) of the credit at JSC “TBC bank” carried out directly and/or indirectly, independently andw/oitrh the help of personally and/or through other person (personsperson(s) by way of the cerdit funds obtained directly and/or indirectly, personally and/or through other person(s) from TBC Bank with the amount issued by any other financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(personsentities).
15.17 Partiesagree, that16.17 The parties hereby agree on the following:
15.17.1 Bank is 16.17.1 the bank shall not obliged be under obligation to prove the fact of refinancing and it has a right, upon receipt of information on cred-itfirneancing by any information sources, shall have the right to make a decision on imposing imposition of the refinancing fee and/or relevant commission fee and/or penalty on to the client/de,bmtoeraning that the borrower on the basis of information held by the bank derived from any kind of source whatsoever. The client/the borrower shall bear the burden of proof related with on the no-nexistence absence of the refinancing;
16.17.2 fees and/or commissions on refinancing fact is upon and advance repayment shall be determined by the agreement(s) executed between the parties;
16.17.3 in the event the client/debtor;
15.17.2 Amount the borrower proves the non-existence of advance payment and r-efinancing commission fee and/or penalty is determined by refinancing through the agreement (agreements) concluded with court, the bank shall be under obligation to reimburse to the client/debtor;
15.17.3 In case, if client/debtor proves the no-nexistence borrower solely the commissions and/or fees deducted without authorization of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the borrower. The client/the borrower hereby waives his/her right of claim in connection with the damage caused by nthkeaBctaivities occurred as a result of the bank’s actions (by violating in breach of the bank’s obligations undertaken with this Agreementhereunder).
15.18 16.18 In case, if the Bank demands event the bank request the client a submission of an insurance poli(cwyith policy(with conditions set by the bankBank) by in connection with the client to use of a credit product, the client/card holder will the cardholder shall be obligedunder obligation:
15.18.1 16.18.1 Take out insurance withan with an insurance company approved by the Bank, Bank ,at rates/terms set by this company;
15.18.2 To implement 16.18.2 to carry out the insurance in accordance with the conditions requested by requirements of the Bank.bank;
15.18.3 To ensure 16.18.3 to indicate the naming of Bank bank as the only a sole beneficiary in the insurance policy.
15.18.4 16.18.4 If the term of the insurance policy is less the term of this Agreement/ additional agreement(s), submit to the Bank a renewed insuroalniccye npot insurance policy not later than within 14 (fourteen) calendar days before the date of expiry of the existing insurance policy.
15.18.5 16.18.5 Pay the insurance premium and/or other related fees in the amount charged by the insurance company approved by the Bank. The payment of the insurance premium and/or other related fees is a mandatory payment related to the bank facility (including, a credit fa)cailintyd facility) and without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft amount of the insurance premium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce the insurance policy.
15.19 16.19 In case, if the event the client/card holder does not the cardholder fails to pay the insurance premium/premium/ insurance fee in accordance with according to the rule terms and timeframsecrpibred by conditions of this Agreement/agreement/ additional agreement(s) and/or the insurance policypolicy such failure shall be deemed as a delayed payment.
16.20 With the purpose of the Client's commitments guarantee, as well as the insurance continuity guarantee and/or in case of violation of commitments regarding insurance issues, the debt shall be considered delayed.Borrower:
15.20 In case of essential worsening 16.20.1 Agrees in advance to implement any activities related to the replacement of the insurance conditions company upon the Bank’s requirement, terminate or increase renew insurance relations/agreement with the insurance company ;
16.20.2 Authorizes the Bank to process (including the provision for the insurance company in relevant time periods) information containing the Client’s personal data for the purpose of relations with insurance tariffs, companies;
16.21 The client/card holder shall hraigvhet ato express the intention in writing cardholder hereby consents to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding the annulment right of the requirement of obligatory insurance by applying its own credit principles and rules.
15.21 Client/card holder agrees, that the Bank shall bank to deduct monthly insurance premium for the benefit of the insurer (insurancepcaonmy) fromany from any account of the client/card holder the cardholder the insurance premium in accordance with the rules envisaged by conditions stipulated under paragraph 3.2 subject to monthly payment for the benefit of this Agreementinsurer (insurance company). If the amount is debited from a currency account(s), the equivalent will be calculated based on the exchange rate set by the Bank on the day of debiting.
15.22 16.22 The client grants the bank an unconditional right to provide the guarantor(s) and/or any persons, whose property acts asescthuerity as the security for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR client’s liabilities with the information on the client’s liabilities with the bank and upon request, provide them with copy(s) of the corresponding agreements between the Bank and the client (including the bank loan agreement).
15.23 16.23 TBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxx, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures and terms envisaged by the Georgian legislDataiotan.described legislation. Data described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Lsare processed for assessing the Client’s creditworthiness and will be accessible to creditor(s) QcoHnnVeVcte d DtoQCGIB and data receiver(s)/provider(s) connected to CIB, inZLOO EH in compliance with rules envisaged by the Georgian legislation. At the request of the CliehnetClient, Dt ata the Data Processor is obliged to correct, update, complete, block, delete or destroy the data if they are incomplete, inaccurate, outdated, or were collected and processed unlawfully.
15.24 Bank has a 16.24 For the purpose of decision to be made with regard to the client’s credit and/or performing the liabilities of the client towards the bank (including repayment of the credit), the bank shall have the right to request and receive obtain any personal kind of private information aboutctlhieent held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding credit repayment)through third person(s) and administrative entities.
15.25 If 16.25 In case the client customer violates obligations undertaken by any commitment under the agreement with between him/her and the Bank bank, or this will be if it is necessary due to protect business rteiopnutoaf reputation of the Bank bank and/or protection of its legal interests, Bank the bank shall have a right be entitled to transfer submit to the court/arbitration/National Enfeomrcent Bureau and/or use of Enforcement the information about client, as well as the customer and/or use it like any document signed by the clientcustomer.
Appears in 1 contract
Samples: Banking Operations Agreement
GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on this agreement, client is entitled to use various the credit productsproduct described undercAlerti16 of this Agreement.
15.2 Credit product mentioned under paragraph 51.1 of this Agreement is described in relevant part of the Agreement.General provisions of the credit product are defined by this article, while specific conditions adreefined are defined and regulated regual xxx by the agreement on the corresponding credit product concluded by the Parti.esAs a Pa.rtAiessa rule, other types of credit products are issued on the basis of the agreement concluded between the Bank and the client on credit product services,hiwch , which does not eliminate eliinmate the possibility to issue any credit product directly on the basis of this Agreement.
15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige the Bank to disburse ta(cinrefudlil a credit (in full or any part thereof) or provide the Client with a credit service.
15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsiocondition(s) np(recedent precedent / requirement(s) (if any).
15.2.3 Considering events mentioned inSubparagraphs in Subparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason to the Client (even if the Parties have concluded a particueladrit cfar cility particular credit facility agreement).
15.3 In order to receive credit product, client must apply to the Bank with application (it is possible to receive some produyctssubmitting products by submitting application via electronic communications±telephonecommunicatio±nstelephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the %DQN VKDOO UHYLHZ aWndKmHakeFaOdLecHisiQonWo¶n VissuaDncSe SorOn-LoisnsFuDanWceLoRf tQhe credit product (Bank is not obliged to state the reason forfor n-nisosnuanceoisnsuance).
15.3.1 Client may, at any time, make a request through anreymote channel/meansof electronic communication of the Bankfor receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid between the client and the bank and visit the Bank's branch / service center for taking the copy
15.4 Upon receipt of the credit productpor duct, client (debtor) will be obliged to repay it and to pay the interest profit in accordance with theopvrisions the provisions agreed with the Bank.
15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH RXWVWDQGLQJ OLDE actualdays of use of the facility based on a 365 day calendar.
15.5 Monetary obligations of the client are secured as a rule by the amounts accumulated on his account (accounts).
15.6 If the client does not have settlement (current) account, applicoanti application for issuing the credit tchreedit product will be at the same time considered as the application to open the settlement (current) account and such account will be opened for the client prior to issuing the credit product.
15.7 In order to cover the credit product by ht e the client/card holder hodler with the amount transferred to the bank or with the existing amount on the account of card holder/client, first of all, insurance premium will be covered with the aforementioned amount, afterwards the penalwtieillsbe penalties will be covered for deal ying delaying the payment term paymetenrtm (if applicable), afterwards interest profit will be covered and finally, the basic amount of credit willsbuebject will be subject to coverage. Client is entitling the Bank to:
15.7.1 Amend the rule prescribed by Paragraph5.17 Paragraph51.7 of this Agreement;
15.8 If monthly payment of amount is delayed, the client/card holder will be obliged to pay the penalty to the Bank for delay, whichhmt icgomprise which might comprise of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the moment of Bank during the momt eonf delay.
15.9 Credit product will not accrue late payment interest if the day of deposit (transfer) of amounts coincides with the -nboannking non-banking day. In such case, the Client shall deposit (pay) the payable sum to the relevant account on ftohlelowing banking daythe following bankingday.
15.10 In order to obtain the credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit cover the credit obtained from the Bank, deposited interest, penalty (if applicable), insurance premium or dooetspnay does not pay on time any commission ancyommission fee defined by the Bank, the Bank shall be entitled:
15.10.1 To secure its demand bayrresting bank accounts and/osrelling any assets of the client/card holder (this right does not limit the right of the Bank arisen on the basis of paragraph 3.2 of this Articleir)respective 3.2hoisf tArticle) irrespective of whether the customer's obligation (bank's request) is secured with the right in rem (moretgmortgage, ag pledge). Besides, the bank is authorized, at its discretion, to execute in the first place a writ/payment of the asse tangdibinle property of the Customer, asset and intaengibl SURSHUW\ RI WKH &XVWRPHU ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ RI WKH &XVWRPHU¶V OLDELOLWLHVRI
15.10.2 To demand from the client/card holder any time to conclude pledge or mortgage agreement in order to cover the debts originated by using the credit limit (In this htis case, client/card holder will be obliged to conclude relevant agreement with the Bank within no later thanfi5vethan 5 (five) working days from the receipt of the request by the Bank, according to which the client/card holder shall secure the property to be received bByathnek rievceed by the Bank by mortgage or pledge, the amount of which must not be less than the total sum of used credit producetpproduct, odsited deposited interest and the penalty. The client/card holder shall register the rights of the Bank in relevant registry. Expenses associated assoceiadt with the conclusion of the agreement (agreements) andgitshterartieon and the registration of rights, originated from the Agreement, in the registry will be carried by the client/card holder);
15.10.3 To request the transfer of pledge and/or mortgage object and after the transfer, to trearn,stof alienate the pledge and/or mortgagteboybdjeircect mortgage object by direct selling or other rules prescribed by the Civil Code and aftecrovering after covering the necessary expenses for realization, to use the received amount to cover the credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI amount received as a result oI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G RU PRUWJDJH REMHFW GRHV QRW IX direct enforcement on any property of the client/debtor.
15.11 In case of delay of payment of monthly amount, interest profit, penalty or insurance premium by premiubmy the client/debtor, also sinecoaf in case of improper and untimely fulfillment (violation) of any prep-conditionrecondition, additional condition, requirement of the Bank towards the client and/or any obligation undertaken by the client or in case of other significant basis, the bas,isthe Bank shall be authorized to terminate independently the credit relation/oarnrdelevant relation and/or relevant agreement and/or demand from the client/debtor to return the credit product in addition to other due fees (interest profit, penalty and other).
15.12 To apply for early earyl repayment and/or early termination of a bank credit (loan), credit line, overdraft, creldimit it and any credit facility (hereinafter UHIHUUHG WR DV WKH ³&UHGLW´- 15I.17R) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnIt/th e3BoDrrUowDeJr(inUcluDdSingKfVull or p art ia l prepayment and/or refinancing of the credit),the Client/the Borrower shall submit to theBank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ hours. Despite the aforementioned, the Bank may satisfy t&heOLHQW¶V WKH %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ (including, technical) reasons and/or for the need to establish some faFcrtosm. the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anV, t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX Furthermore, in cases stipulated by the law, when prepaying fully or partially on a credit (in excess of 2 000 000 GEL eoqr uitisvalent in foreign currency) theClient/the Borrower may submit a resepctive application to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl the credit until the credit is fully or partially prepaid.
15.13 In case of prepayment of thepart of the loan, the bank shall be authorized to unilaterally change the payment schedule (draft a new schedule), in which case, the Client/borrower shall pay off the loan according to the new schedule of the bank. The new schedule shall be drpawoneuof the following principle: 1)the payable amount(principal amount (remainder of the credit) will be equally distributed over the remainingriopde until the loan is fully repaid ; or 2) the period, remaining till full repayment of the credit will be reduecd and the amount, payable in periodicity, envisaged by the schedule will remain unchanged.
15.14 In case of presenting application to cover the credit in advance to the Bank, client/debtor shall be obliged to present athnek Bwith any information/document, which directly or indirectly provides opportunity to establish the fact of credit refinancing or rejects the fact of credit refinancing.
15.15 In case, if the relevant credit conditions foresee the commission fee for refinancing and the Bank shall have a douatbt,hethrefinancing is taking place, the Bank shall be authorized after receiving the application of the client/debtor regarding the advance payment of the c, rteodirtequest the client additionally to present any information/document related with credit rfeinancing within no later than 2 (two) banking days from the date of the request.
15.16 Credit refinancing shall include advance payment (prior to the agreed term) directly and/or indirectly, independently andw/oitrh the help of other person (persons) of the cerdit obtained from TBC Bank with the amount issued by any financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(persons).
15.17 Partiesagree, that:
15.17.1 Bank is not obliged to prove the fact of refinancing and it has a right, upon receipt of information on cred-itfirneancing by any information sources, to make a decision on imposing relevant commission fee and/or penalty on the client/de,bmtoeraning that burden of proof related with the no-nexistence of the refinancing fact is upon the client/debtor;
15.17.2 Amount of advance payment and r-efinancing commission fee and/or penalty is determined by the agreement (agreements) concluded with the client/debtor;
15.17.3 In case, if client/debtor proves the no-nexistence of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the damage caused by nthkeaBctaivities (by violating the obligations undertaken with this Agreement).
15.18 In case, if the Bank demands insurance poli(cwyith conditions set by the bank) by the client to use credit product, client/card holder will be obliged:
15.18.1 Take out insurance withan insurance company approved by the Bank, at rates/terms set by this company;
15.18.2 To implement the insurance in accordance with the conditions requested by the Bank.
15.18.3 To ensure the naming of Bank as the only beneficiary in the insurance policy.
15.18.4 If the term of the insurance policy is less the term of this Agreement/ additional agreement(s), submit to the Bank a renewed insuroalniccye npot later than within 14 (fourteen) calendar days before the date of expiry of the existing insurance policy.
15.18.5 Pay the insurance premium and/or other related fees in the amount charged by the insurance company approved by the Bank. The payment of the insurance premium and/or other related fees is a mandatory payment related to the bank facility (including, a credit fa)cailintyd without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft the insurance premium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce policy
15.19 In case, if the client/card holder does not pay insurance premium/insurance fee in accordance with the rule and timeframsecrpibred by this Agreement/additional agreement(s) and/or the insurance policy, the debt shall be considered delayed.
15.20 In case of essential worsening of the insurance conditions or increase of insurance tariffs, client/card holder shall hraigvhet ato express the intention in writing to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding the annulment of the requirement of obligatory insurance by applying its own credit principles and rules.
15.21 Client/card holder agrees, that the Bank shall deduct monthly insurance premium for the benefit of the insurer (insurancepcaonmy) fromany account of the client/card holder in accordance with the rules envisaged by paragraph 3.2 of this Agreement.
15.22 The client grants the bank an unconditional right to provide the guarantor(s) and/or any persons, whose property acts asescthuerity for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR the Bank and the client (including the bank loan agreement).
15.23 TBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxx, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures and terms envisaged by the Georgian legislDataiotan.described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Ls) QcoHnnVeVcte d DtoQCGIB , inZLOO EH compliance with rules envisaged by the Georgian legislation. At the request of the Cliehnet, Dt ata Processor is obliged to correct, update, complete, block, delete or destroy the data if they are incomplete, inaccurate, outdated, or were collected and processed unlawfully
15.24 Bank has a right to request and receive any personal information aboutctlhieent held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding credit repayment).
15.25 If the client violates obligations undertaken by any agreement with the Bank or this will be necessary due to business rteiopnutoaf the Bank and/or protection of legal interests, Bank shall have a right to transfer to the court/arbitration/National Enfeomrcent Bureau and/or use the information about client, as well as any document signed by the client.OLPLW DQG DQ\ FUHGLW IDFLOLW\ KHUHLQDIWHU UH-
Appears in 1 contract
Samples: Banking Transactions Agreement
GENERAL CONDITIONS OF CREDIT PRODUCTS. 15.1 Based on this onthis agreement, client is entitled to use various the credit productsproduct described under Articl6e o1f this Agreement.
15.2 Credit product mentioned under paragraph51.1 of this Agreement is described in relevant part of the Agreement.General provisions of the credit product prdouct are defined by this article, while specific conditions adreefined are defined and regulated by the agreement on the corresponding credit product concluded by the Parti.esAs Parties. As a rule, other types of credit products are issued on the basis of the agreement concluded condclude between the Bank and the client on credit product services,hiwch , which does not eliminate the possibility to issue any credit product directly on the basis of this Agreement.
15.2.1 This Agreement, as well as individual credit facility agreements, authorizes but does not oblige the Bank to disburse ta(cinrefudlil a credit (in full or any part thereof) or provide the Client with a credit service.
15.2.2 Before the disbursement of credit facility/ies (including individual tranches), the Client must satisfy respective conditsiocondition(s) np(recedent precedent / requirement(s) (if any).
15.2.3 Considering events mentioned inSubparagraphs in Subparagraphs 15.2.1 and 15.2.2 of the Agreement, the Bank, at its own discretion, may not disburse credit product(s) / suspend any tranche thereof without explaining the reason to the Client (even if the Parties have concluded a particueladrit cfar cility particular credit facility agreement).
15.3 In order to receive credit product, client must apply to the Bank with application (it is possible pisossible to receive some produyctssubmitting products by submitting application via electronic communications±telephonecommunication–stelephone, internet, e-mail, etc.). Bank shall review the cLl HQW¶V DSSOLFDWLRQ DQG PD- NH D GH issuance of the client’s-issauapncpe lofithce ation credit product (Bank is not obliged to state the reason forfor no-nisosnuancenissuance).
15.3.1 Client may, at any time, make a request through anreymote channel/meansof electronic communication of the Bankfor receiving a copy of credit product agreements (including a copy of agreement on credit products obtained through remote channels) signed betweenetnhteacnlid between the client and the bank and visit the Bank's branch / service center for taking the copy
15.4 Upon receipt of the credit product, client (debtor) will be obliged to repay it and to pay the interest profit in accordance with theopvrisions the provisions agreed with the Bank.
15.4.1 QWHUHVW LV DFFUXHG WR WKH &OLHQW¶V RXWVWinDg QtoGthLe aQctJua l dOaLysDofEusLeOofLthWe \fa ciliWtyRbaZseDdUonGaV WKH Interest is accrued to the Client’s outstanding li the actual days of use of the facility based on a 365 day calendar.
15.5 Monetary obligations of the client are secured as a rule by the amounts accumulated on his account (accounts).
15.6 If the client does not have settlement (current) account, applicoanti application for issuing the credit product will be at the same time considered as the application thaepplication to open the settlement (current) account and such account will be opened for the client prior to issuing the credit product.
15.7 In order to cover the credit product by ht e the client/card holder with the amount transferred to the bank or with the existing amount on the account of card holder/client, first of all, insurance premium will be covered with the aforementioned amount, afterwards the penalwtieillsbe penalties will be covered for deal ying delaying the payment term (if applicable), afterwards interest profit will be covered cvoered and finally, the basic amount of credit willsbuebject will be subject to coverage. Client is entitling the Bank to:
15.7.1 Amend the rule prescribed by Paragraph5.17 of this Agreement;
15.7.2 To define independently the order of fulfilling obligations by the client (prioritzi ing), i.e. to decide independently the amount (quantity) and type of obligation related with any credit product, which must be covered by the amount (amounts), transferred to the Bank by the client and/or by the amount (amounts), which are existing on theaccount (accounts) of the client. This means, that the client authorizes the Bank to determine the order of fulfilling obligations (prioritizing) under the name of the client.
15.8 If monthly payment of amount is delayed, the client/card holder will be obliged to obligdeto pay the penalty to the Bank for delay, whichhmt icgomprise which might comprise of fixed penalty and daily penalty, the amounts of which are determined according to the tariffs established by thekBdaunring the Bank during the moment of delay.
15.9 Credit product will not accrue late payment paymnet interest if the day of deposit (transfer) of amounts coincides with the -nboannking non-banking day. In such case, the Client shall deposit (pay) the payable sum to the relevant account on ftohlelowing the following banking day.
15.10 In order to obtain the credit product, if within the timeframe agreed with the Bank, the client/card holder does not coveretchredit cover the credit obtained from the Bank, deposited interest, penalty (if applicable), insurance premium or dooetspnay does not pay on time any commission fee defined by the Bank, the Bank shall be entitled:
15.10.1 To secure its demand bayrresting bank accounts and/osrelling any assets of the client/card holder (this right does not limit the right of the Bank arisen on the basis of paragraph 3.2 of this Articleir)respective Articirlere) spective of whether the customer's obligation olbigation (bank's request) is secured with the right in rem (moretgmortgage, ag pledge). Besides, the bank is authorized, at its discretion, to execute in the first place a writ/payment of the asse tangdibinle asset and intangible property of the Customer, ZKLFK LV QRW WKH REMHFW RI D VHFXULW\ RI WKH &XVWRPHU¶V OLDELOLWLHVwhich is not the object oaf liabilities. security of the
15.10.2 To demand from the client/card holder any time to conclude pledge or mortgage agreement in order to cover the debts originated by using the credit limit (In this case, client/card holder will be obliged to conclude relevant agreement with the Bank within no later thanfi5vethan 5 (five) working days from the receipt of the request by the Bank, according to which the client/card holder shall secure the property to be received bByathnek by the Bank by mortgage or pledge, the amount of which amountwohfich must not be less than the total sum of used credit producetpproduct, odsited deposited interest and the penalty. The client/card holder shall register the rights of the Bank in relevant registry. Expenses associated with the conclusion of the agreement (agreements) andgitshterartieon and the registration of rights, originated from the Agreement, in the registry will be carried by the client/card holder);
15.10.3 To request the transfer of pledge and/or mortgage object and after the transfer, to alienate the pledge and/or mortgagteboybdjeircect mortgage object by idrect selling or other rules prescribed by the Civil Code and aftecrovering after covering the necessary expenses for realization, to use the received amount to cover the credit. If the DPRXQW UHFHLYHG DV D UHVXOW RI VHOOLQJ SOHGJH DQG RUor izePdRtoUdiWrecJt DenJforHce meRntEMHFW G amount received as a result of selling pledge and/or mortgage object does not fculoly ver the debtor’s Bank is authorized to direct enforcement on any property of the client/debtor.
15.11 In case of delay of payment of monthly amount, interest profit, penalty or insurance premium by the client/debtor, also sinecoaf in case of improper and untimely utinmely fulfillment (violation) of any pre-condition, additional condition, requirement of the Bank towards the client and/or any obligation undertaken by the client or in case of other significant basis, the Bank shall be authorized to terminate independently indepentlyden the credit relation/oarnrdelevant relation and/or relevant agreement and/or demand from the client/debtor to return the credit product in addition to other due fees (interest profit, penalty and other).
15.12 To apply Registration or/and cancellation of any request for early repayment and/or early termination beforeedduate of a the bank credit (credit, loan), credit line, overdraft, creldimit it credit limit or/and any credit facility product (hereinafter UHIHUUHG WR DV WKH ³&UHGLW´- 15I.17Rreferred to as the Credit for the purposes of paragraphs 15.12–15.17 of this Agreement) Uun deWr aKnHy a grSeeXmUenSt RwitVh HtheVC lieRnItunder any agreement concluded with the Client/th e3BoDrrUowDeJr(inUcluDdSingKfVull or p art ia l prepayment and/or refinancing Borrower (including repayment of the credit),the loan before due date as specified in the repayment schedule either in full or in part or/and refinancing thereof) shall be made by filing by the Client/Borrower of a written application (hard copy or soft copy) xxxx’sthaeppBlaincka.tiTohne iCslifeunltf’ (provided, that there are sufficient funds availabl application is received or the next business day if the application was filed by the Client/Borrower shall submit to theBank a respective application in writing (whether as a hardcopy or electronically).7KH %DQN ZLOO VDWLVI\ WKH o&n tOheLdHayQitWis¶reVce ivWedK(pHro vi%deRd tUheUreRaZreHsuUffi¶cieVn t fuDndSsSOLFDW LQ WKH &OLHQW¶V WKH on%thReUfoUlloRwiZngHbUan¶kiVng dDayFifFthRe &XOQLWH QVW ¶ V WRKUH %RUURZHU¶V -DbaSnkSinOg LFDWLRQ non-business hours). Despite the aforementionedHowever, the Bank may satisfy t&heOLHQW¶V WKH %RUURZHU¶V DSSOLFDWLRQ ZLWKLQ by various reasons (includingincluding technical ones) or/and in order to verify certain facts, technical) reasons and/or fulfill the Client’s receipt of the application. During the period for the need to establish some faFcrtosm. m the date of receipt of the&OLHQW¶V WKH %RUURZHU¶V DS LQ WKH DEVHQFH RI VXIILFLHQW IX,QunGtilVfu ll oLr pQa rtiaWl pKreHp ay&mOenLt oHf thQeWlo¶anVth application and when there are sufficient funds av early repayment date of the Credit (either in full or in part), t heWcrKedHit wi%ll nRotUacUcrRueZinHteUre¶st.V DFFRX no interest will be charged to thereCdit. Furthermore, in some cases stipulated as provided for by the law, when prepaying fully or partially on a credit repaying Cthreedit (in excess an amount of which exceeds 2 000 000 GEL eoqr uitisvalent or its equivalent in foreign currencycurrencies) theClientbefore due date either in full or in part, the Client/the Borrower may submit a resepctive application shall be liable to apply to the Bank 14 (fourteen) calendar days prior to the planned date of prepayment, in which case the Bank has the right to continue interest accruoanl the credit until the credit is fully or partially prepaidexpected payment date.
15.13 In case of prepayment of thepart the part of the loan, the bank shall be authorized to unilaterally change the payment schedule (draft a new schedule), in which case, the Client/borrower shall pay off the loan according to the new schedule of the bank. The new schedule shall scheeduslhall be drpawoneuof drawn up one of the following principle: 1)the payable amount(principal amount (remainder of the credit) will be equally distributed over the remainingriopde remaining period until the loan is fully repaid ; or 2) the period, remaining till full repayment of the credit will be reduecd reduced and the amount, payable in periodicity, envisaged by the schedule will remain unchanged.
15.14 In case of presenting application to cover the credit in advance to the Bank, client/debtor shall be obliged to present athnek Bwith the Bank with any informationni formation/document, which directly or indirectly provides opportunity to establish the fact of credit refinancing or rejects the fact of credit refinancing.
15.15 In case, if the relevant credit conditions foresee the commission fee for refinancing and the Bank shall thekBsahnall have a douatbt,hethrefinancing doubt, that the refinancing is taking place, the Bank shall be authorized after receiving the application of the client/debtor regarding the advance payment of the ccredit, rteodirtequest to request the client additionally to present any information/document related documetnrelated with credit rfeinancing refinancing within no later than 2 (two) banking days from the date of the request.
15.16 Credit refinancing shall include advance payment (prior to the agreed term) directly and/or indirectly, independently andw/oitrh and/or with the help of other person (persons) of the cerdit credit obtained from TBC Bank with the amount issued by any financial institution (commercial bank, microfinance organization, credit union and/or other person) directly and/or indirectly, independently and/or with the help of other pernso(personsperson (persons).
15.17 PartiesagreeParties agree, that:
15.17.1 Bank is not obliged to prove the fact of refinancing and it has a right, upon receipt of information on credcredit re-itfirneancing financing by any information sources, to make a decision on imposing relevant commission fee and/or penalty on the client/de,bmtoeraning debtor, meaning that burden of proof related with the no-nexistence of the refinancing fact is upon the client/debtor;
15.17.2 Amount of advance payment and r-efinancing commission fee and/or penalty is determined by the agreement (agreements) concluded agreementsc)oncluded with the client/debtor;
15.17.3 In case, if client/debtor proves the no-nexistence of refinancing fact by applying to court, Bank will be obliged to return only the deducted commission fee and/or penalty, and the client/debtor refuses to compensate the damage thedamage caused by nthkeaBctaivities the Bank activities (by violating the obligations undertaken with this Agreement).
15.18 In case, if the Bank demands insurance poli(cwyith conditions set by the bank) by bank)by the client to use credit product, client/card holder will be obliged:
15.18.1 Take out insurance withan with an insurance company approved by the Bank, at rates/terms set by this company;
15.18.2 To implement the insurance in accordance with the conditions requested by the Bank.
15.18.3 To ensure the naming of Bank as the only beneficiary in the insurance policy.
15.18.4 If the term of the insurance policy is less the term of this Agreement/ additional agreement(s), submit to the Bank a renewed insuroalniccye npot insurance policy not later than within 14 (fourteenfourtee) calendar ncalendar days before the date of expiry of the existing insurance policy.polic.y
15.18.5 Pay the insurance premium and/or other related fees in the amount charged by the insurance company approved by the Bank. The payment of the insurance premium and/or other related fees relateedsf is a mandatory payment related to the bank facility (including, a credit fa)cailintyd facility) and without the payment (or without undertaking the payment) thereof, the bank facility (including, a credit facility) will not be issued. The amouonft amount of the insurance premium permium and/or other related fees shall be set forth in a respective agreement and/or thseuriannce the insurance policy
15.19 In case, if the client/card holder does not pay insurance premiumpremi/insurance fee in uinmsurance feein accordance with the rule and timeframsecrpibred timeframe prescribed by this AgreementAgreeme/additional natdditional agreement(s) and/or the insurance policy, xxxx,xx the debt shall be considered delayed.
15.20 In case of essential worsening of the insurance conditions or increase of insurance tariffs, client/card holder shall hraigvhet ato have a right to express the intention in writing wrintig to annul the requirement of obligatory insurance. Bank shall make a decision indepentdlyenregarding independently regarding the annulment of the requirement of obligatory insurance by applying its own credit principles and rules.
15.21 Client/card holder agrees, that the Bank shall deduct shl adleduct monthly insurance premium for the benefit of the insurer (insurancepcaonmyinsurance company) fromany from any account of the client/card holder in accordance with the rules envisaged by paragraph 3.2 of this Agreement.
15.22 The client grants the bank an unconditional right to rightot provide the guarantor(s) and/or any persons, whose property acts asescthuerity as the security for cliHQW¶V OLDELOL ZLWK WKH LQIRUPDWLRQ RQ WKH FOLHQW¶V OLDELOLWLHV ZLWKn g WagKreHem eEntsDbQetNwe enDQG XSR client’s liabilit bank and upon request, provide them with copy(s) of the Bank corresponding agreements betwehe Btank and the client (including the bank loan agreement).
15.23 TBC The Client gives consent and authorizseTBC Bank JSC (address: 0 Xxxxxxxxxxxxx xxxxxxhereinaftthe Ctlhien“tB’as data provided herein as well as idantabatsehs eof thBeCarednitk’s dat Information Bureau(x) (hereinafter the Bureau) for the purpose ofcreditworthiness assessment, Xxxxxxx) will collect/process all credit/non-credit and other relevant information about the Client that involves data supply and retrieval to/from CIB in compliance with procedures rules and terms provisions stipulated by the law of Georgia. The Client is aware of the rights envisaged by the Georgian legislDataiotan.described herein DUH SURFHVVHG IRU DVVHVVLQJ WKH &OLHQW¶V FUHGLWZRUWK(Ls) QcoHnnVeVcte d DtoQCGIB law of Georgia that upon thelCient’s request, inZLOO EH compliance with rules envisaged by the Georgian legislation. At the request of the Cliehnet, Dt ata Processor is obliged to correct, Data Proc update, completeadd, block, delete or destroy the data if they are incomplete, inaccurate, outdated, outdated or were collected obtained and processed unlawfully. This is a on-teime consent and is valid within 30 working days from sniging the Application. The Client isalso aware and agresethat the Bank will obatain/process all credit/no-ncredit and other relevant information concerning me, which involves information provision and retrieval to/from the Bureauin compliance with the rules and conditions stipulated by the law of Georgia. This information is processed for the purpose of creditworthiness assessment and will be accessible to- credit granting organization(s) subscribed to the Bureau as well as toorinmfation provider(s) and receiver(s) in compliance with the law.
15.24 Bank has a right to request and receive any personal information aboutctlhieent about the client held by third party (parties) or administrative bodies in order to make a decision on issuing the credit and/or to aonr dto/ ensure the fulfillment of undertaken obligations by the client towards the Banncklu(iding Bank (including credit repayment).
15.25 If the client violates obligations undertaken by any agreement with the Bank or this will be necessary due to business rteiopnutoaf reputation of the Bank Bnak and/or protection of legal interests, Bank shall have a right to transfer to the court/arbitration/National Enfeomrcent Enforcement Bureau and/or use the information about client, as well as any document signed by the client.
Appears in 1 contract
Samples: Banking Agreement
