Common use of Requests for Remittance Clause in Contracts

Requests for Remittance. 3.1 Requests for transfer shall be handled in the following way: (i) Request for remittance shall be accepted, if it is made by way of fax banking or online banking or other way prescribed by the Bank, during the hours and within the amount prescribed by the Bank. (ii) When requesting a remittance, the Customer shall use the Overseas Remittance Request Form in which the business/company name and branch name of the financial institution which is the receiving party, type of account, account number, name of the recipient, transfer amount, name of the applicant (the Customer), address and telephone number of the applicant (the Customer) and other items prescribed by the Bank must be accurately stated. 3.2 The Bank shall execute the transactions based on the details stated in the Overseas Remittance Request Form which are deemed to be the contents of the request. 3.3 If the Overseas Remittance Request Form is incomplete or incorrect with regard to the requested items set forth in Article 3.1, the Bank will not be responsible for any damages, losses or costs that arise therefrom. 3.4 When receiving a request for remittance, the Bank is required to ascertain certain matters under the laws and regulations concerning foreign exchange. The Customer is, therefore, required to take the following procedures: (i) Please state the purpose for remittance and fill in any other prescribed items information, on the Overseas Remittance Request Form. (ii) Please fill in the necessary items on the declaration form as prescribed by the Bank and submit the form to the Bank, except for cases when the funds for remittance are to be transferred from a deposit account of the Customer whose identity has been verified by the official documents prescribed by the Bank. (iii) Please submit the identity verification documents prescribed by the Bank such as a certified copy of the commercial registry, etc., except for cases when the funds for remittance are to be transferred from an account of the Customer whose identify has been verified by the official documents prescribed by the Bank. (iv) For transactions requiring permission, etc., please present or submit documents proving such permission, etc. 3.5 When requesting a remittance, in addition to the funds to be remitted, the Customer is required to pay the remittance fees as prescribed by the Bank, fees for the Banks Concerned as prescribed by the Banks Concerned and any other fees and expenses required in connection with this transaction (the funds to be remitted and such fees and expenses, collectively referred to as “Remittance Fund, etc.”) to the Bank. The Bank will not accept the remittance funds, etc., in the form of Instruments.