Common use of HOLD ON ACCOUNT Clause in Contracts

HOLD ON ACCOUNT. 4.1 The Bank may debit or place a hold on the Account for the amount of a Card Transaction either on the day it is presented to the Bank for payment (including without limitation a presentation by electronic means) or on the day the Bank receives notice of the Card Transaction, whichever is earlier. If a merchant or establishment requests for an authorisation of a Card Transaction, the Bank may place a hold on the Account for the amount of the Card Transaction. If the amount of the Card Transaction is posted to the Account before the hold expires, the balance available to the Cardmember in the Account shall be reduced by the amount of the Card Transaction that the Bank place on hold. The Cardmember may not stop payment on a Card Transaction nor use any amount placed on hold. For the avoidance of doubt, the amount placed on hold in respect of any Card Transaction shall not be treated as conclusive of the amount of the Card Transaction that would eventually be debited to the Account and in particular, for Card Transactions denominated in a currency other than Singapore dollars and shall not be deemed that the Bank has converted the Card Transaction amount into Singapore dollars on the day that the amount was placed on hold. It is hereby expressly agreed that the Bank shall be at liberty to convert such amount to Singapore dollars at such time and at such rate of exchange as the Bank may determine in accordance with its usual practice.

HOLD ON ACCOUNT. 4.1 The Bank may debit or place a hold on the Account for the amount of a Card Transaction either on the day it is presented to the Bank for payment (including without limitation a presentation by electronic means) or on the day the Bank receives notice of the Card Transaction, whichever is earlier. If a merchant or establishment requests for an authorisation of a Card Transaction, the Bank may place a hold on the Account for the amount of the Card Transaction. If the amount of the Card Transaction is posted to the Account before the hold expires, the balance available to the Cardmember in the Account shall be is reduced by the amount of the Card Transaction that the Bank place on holdTransaction. The Cardmember may not stop payment on a Card Transaction nor use any amount placed on holdTransaction. For the avoidance of doubt, the amount placed on hold in respect of any Card Transaction shall not be treated as conclusive of the amount of the Card Transaction that would eventually be debited to the Account and in particular, for Card Transactions denominated in a currency other than Singapore dollars and dollars, it shall not be deemed that the Bank has converted the Card Transaction amount into Singapore dollars on the day that the amount was placed on hold. It is , it being hereby expressly agreed that the Bank shall be at liberty to convert such amount to Singapore dollars at such time and at such rate of exchange as the Bank may determine in accordance with its usual practice.

HOLD ON ACCOUNT. 4.1 The Bank may debit or place a hold on the Account for the amount of a Card Transaction either on the day it is presented to the Bank for payment (including without limitation a presentation by electronic means) or on the day the Bank receives notice of the Card Transaction, whichever is earlier. If a merchant or establishment requests for an authorisation of a Card Transaction, the Bank may place a hold on the Account for the amount of the Card Transaction. If the amount of the Card Transaction is posted to the Account before the hold expires, the balance available to the Cardmember in the Account shall be is reduced by the amount of the Card Transaction that the Bank place on holdTransaction. The Cardmember may not stop payment on a Card Transaction nor use any amount placed on holdTransaction. For the avoidance of doubt, the amount placed on hold in respect of any Card Transaction shall not be treated as conclusive of the amount of the Card Transaction that would eventually be debited to the Account and in particular, for Card Transactions Transaction denominated in a currency other than Singapore dollars and dollars, it shall not be deemed that the Bank has converted the Card Transaction amount into Singapore dollars on the day that the amount was placed on hold. It is , it being hereby expressly agreed that the Bank shall be at liberty to convert such amount to Singapore dollars at such time and at such rate of exchange as the Bank may determine in accordance with its usual practice.

HOLD ON ACCOUNT. 4.1 The Bank may debit or place a hold on the Account for the amount of a Card Transaction either on the day it is presented to the Bank for payment (including without limitation a presentation by electronic means) or on the day the Bank receives notice of the Card Transaction, whichever is earlier. If a merchant or establishment requests request for an authorisation authori- sation of a Card Transaction, the Bank may place a hold on the Account for the amount of the Card Transaction. If the amount of the Card Transaction is posted to the Account before the hold expires, the balance available to the Cardmember in the Account shall be is reduced by the amount of the Card Transaction that the Bank place on holdTransaction. The Cardmember may not stop payment on a Card Transaction nor use any amount placed on holdTransaction. For the avoidance of doubt, the amount placed on hold in respect of any Card Transaction shall not be treated as conclusive of the amount of the Card Transaction that would eventually be debited to the Account and in particular, for Card Transactions denominated in a currency other than Singapore dollars and Brunei Dollars, it shall not be deemed that the Bank has converted the Card Transaction amount into Singapore dollars to Brunei Dollars on the day that the amount was placed on hold. It is , it being hereby expressly agreed that the Bank shall be at liberty to convert such amount to Singapore dollars Brunei Dollars at such time and at such rate of exchange as the Bank may determine in accordance with its usual practice.