Rights and Obligations of the Bank Sample Clauses
Rights and Obligations of the Bank. 2.1 In line with the Agreement, the Bank undertakes to:
2.1.1 Transfer transaction proceeds to the Merchant’s account (an account provided by the Merchant to the Bank) in national currency based on Electronic Drafts and to the deadlines specified in the Application/on the Bank Website;
2.1.2 Carry out the transfer mentioned in 2.1.1 (i.e. settle transaction proceeds for the Merchant) based on the batch data after the transaction is processed in the card payment network;
2.1.3 At the Merchant’s request, supply the Merchant with business transaction reports via e-mail or fax;
2.1.4 Notify the Merchant regarding a fraudulent transaction within no later than 3 (three) business days after it is informed about a fraud application and/or a chargeback filed with the card issuer.
2.1.5 Ensure that the transaction amount is transferred (settled) to the Merchant’s account in compliance with the terms and conditions stipulated in the Agreement within no later than 2 (two) business days.
2.2 Under the Agreement, the Bank may:
2.2.1 Draw the following amounts from the Merchant’s account(s) by direct debit:
1) Bank fees;
2) Amounts subject to reversal;
3) Chargebacks - amounts of disputed transactions and/or transactions that have been declared fraudulent by the card issuer;
4) Penalties imposed by the International Payment System on the Bank due to an incident observed with the Merchant /due to charges against the Merchant;
2.2.2 Draw funds from transaction amounts by direct debit in order to maintain the Required Balance of the Insurance Reserve;
2.2.3 Provide the International Payment System with any information about the Merchant available to the Bank, if requested;
2.2.4 If, within one calendar month, the total amount and/or number of chargebacks reaches 1% (one percent) of the total amount and/or number of transactions or if the number and/or amount of transactions grows sharply, suspend card services and settlements for the Merchant until the causes are identified (through inspection);
2.2.5 Require from the Merchant all necessary information and documents in the event of a chargeback as well as any suspicious and/or illegal transaction;
2.2.6 Suspend daily (24-hour) authorization of transactions if the Merchant defaults on the Bank’s requirements related to the fulfilment of his/her/its Insurance Reserve obligations;
2.2.7 Suspend daily (24-hour) authorization of transactions in the ongoing month if in the previous month the Merchant has exceeded his/her/its onli...
Rights and Obligations of the Bank. 3.1. The Bank shall undertake to:
0.0.0. xxxx the Accumulation Account for the Customer; 0.
0.0. xxxxxx the funds transferred to the Account;
Rights and Obligations of the Bank. 3.1. The BANK ensures safety of the monies in the CUSTOMER’S account.
3.2. The BANK provides possibility to the CUSTOMER to complete transactions in the Account in any currency.
3.3. The BANK executes the CUSTOMER’S payment orders in accordance with the normative requirements of the Bank of Latvia, the rules and terms stated by the BANK.
3.4. The BANK shall be entitled not to execute the CUSTOMER’S payment orders if such have been completed in a manner violating the BANK’S rules, or if there are insufficient monies in the CUSTOMER’S account for the execution of the order and payment of the BANK’S charge. The BANK shall not be liable for the correctness and lawfulness of the transactions performed by the CUSTOMER. The BANK shall execute the CUSTOMER’S payment orders within the terms specified by the applicable BANK Tariffs and charges for other financial services, as well as the rules of credit transfers, but it shall not be liable for delay of payments due to actions or inaction by other banks participating in completion of the payment. The BANK’S obligations regarding execution of the payment order accepted from the CUSTOMER shall be deemed completed as of the moment of confirmation of the said order by the Recipient Bank.
3.5. The BANK shall not be liable for the damage caused to the CUSTOMER due to delay of execution of payment orders of the CUSTOMER, loss through transfer, errors and distortion of transmission occurring as a result of insufficiency or damage of communication means, difference in time zones, fluctuations of exchange rates and other circumstances beyond the BANK’S control.
3.6. The BANK withdraws, under uncontested proceedings, monies from the CUSTOMER’S account that have been erroneously (without legal substantiation) transferred into the Account. In the event of lack of monies in the Account for withdrawal of the erroneously transferred amounts the CUSTOMER shall, upon a request of the BANK, replenish the funds in the Account.
3.7. The BANK shall be entitled not to start or to suspend service the Account and/or refuse execution of the CUSTOMER’S orders in the event the BANK does not have sufficient information and documents characterizing the CUSTOMER’S business activities or serve the Account only according to especially coordinated order.
3.8. The BANK hereby guarantees the secrecy of the Account, deposits and completed transactions of the CUSTOMER (confidentiality principle). Complying with applicable normative acts and generally ac...
Rights and Obligations of the Bank. 3.1. The Bank undertakes:
0.0.0. Xx open an Account for the Client for an unlimited period.
0.0.0. Xx credit the Account with the funds transferred by the Client and third parties.
0.0.0. Xx fulfill Client’s directions for transferring certain amounts and disbursing them from the Account and perform other payment operations which are performed with the accounts of such nature.
0.0.0. Xx provide information about the Account balance, performed payment operations and other agreed upon information in the online banking platform. If the Client requests to obtain information in a durable medium, the information is prepared under a separate agreement.
0.0.0. Xx fulfill all directions from the Client to the extent allowed by the functionality of the Account and applied limitations (operation limits, account constraints, etc.).
0.0.0. Xx ensure the secrecy of the information about the Account and all performed operations. To provide information exclusively to the Client and/or its representatives and in other events and in accordance with the terms foreseen in the Law of the Republic of Lithuania.
3.2. The Bank has the right:
0.0.0. Xx receive the payment under the applied Rates for the services provided to the Client.
0.0.0. Xx debit the applied Rates from the Account or other Client’s accounts in the Bank only if there is an agreement (authorization) by the Client to fulfill the payment transaction.
0.0.0. Xx unilaterally terminate the Contract if there are no monetary funds in the Account for more than a year and if no operations were performed with the Account and if the Client, after the Bank’s notice, does not begin to use the Account.
3.3. The Bank performs the payment operations in the currency specified in the Special part of the Contract. If the Account was funded by other currency than specified, before crediting the funds, the Bank exchanges the funds to the Account currency under the exchange rate set by the Bank on the day of currency exchange.
3.4. If the funds were transferred to the Account mistakenly or if the Client has received funds that do not belong to the Client, the Bank has the right to perform a correction by debiting the amount of credited funds from the Account without the Client’s agreement. If the Account balance is not sufficient to debit the credited funds, the Bank has the right to block the Account and/or credit such amount of funds from other accounts of the Client.
3.5. The Bank is not responsible for and does not check the cor...
Rights and Obligations of the Bank. Quyền và nghĩa vụ của Ngân hàng
8.1 Rights of the Bank:
(a) To request the Guaranteed provide sufficient and accurate documents and information relating to the Guaranteed and/or to its obligations under this Agreement or the Guarantee;
Rights and Obligations of the Bank. 3.1. The Bank shall undertake to:
3.1.1. open the Accumulation Account for the Customer.
3.1.2. credit the funds transferred to the Account.
3.1.3. execute payment orders given by the Customer in writing or by other agreed means.
3.1.4. provide information on the Account balance, payment transactions made and other agreed information.
3.1.5. execute other instructions given by the Customer to the extent permitted by the functionality of the Account or applicable restrictions (transaction limits, account restrictions, etc.).
3.2. The Bank shall be entitled to:
3.2.1. receive remuneration in accordance with the applicable Fees for the services rendered to the Customer.
3.2.2. debit the applicable Fees from the Account or other accounts of the Customer with the Bank.
3.3. The Bank shall execute payment transactions in the currency specified in the Special Part of the Agreement. If the funds received into the Account are in a currency other than the specified currency, the Bank shall convert them into the currency of the Account at the rate set by the Bank on the date of currency conversion, before crediting such funds to the Account.
3.4. If funds have been transferred to the Account in error or the Customer has received another’s funds, the Bank shall be entitled to make a correction by debiting the amount of funds credited to the Account without the Customer’s consent. If the Account has insufficient funds to debit the erroneously credited funds, the Bank shall be entitled to block the Account and/or debit such amount of funds from the other Accounts of the Customer.
3.5. The Bank shall not be liable for and shall not verify the accuracy of the data provided in the payment order.
3.6. The Bank shall be entitled to refuse the execution of payment transaction if this is contrary to the applicable legislation, the General Rules or the terms and conditions of this Agreement.
3.7. Payment transfers from the Account shall be made only if there are sufficient funds in the Account to make the payment and to pay the fees charged by the Bank, unless otherwise agreed.
3.8. After the Customer transfers all funds from the Accumulation Account, the Bank will close the Accumulation Account without the separate consent/request of the Customer.
Rights and Obligations of the Bank. 6.1. To lease out to the Client the Safe Deposit Box in a good technical order.
6.2. of the Republic of Latvia.
6.3. To hand ovter to the Client the Safe Deposit Box key after execution of payments laid down in the Terms and Conditions of the Safe Deposit Box Lease Agreement, except in cases when the Client would like to keep the Safe Deposit Box key in the Bank.
6.4. To provide to the Client access to the Safe Deposit Box within the period laid down in Clause 4.1 of the Agreement.
6.5. To ensure that during use of the Safe Deposit Box the Client is alone in the Depository. 6.6.
Rights and Obligations of the Bank. 13. The Bank shall make only payments from payment accounts on the basis of an order made by or with the prior consent of the Client, to the extent of the amount and according to the conditions specified by the Client, except in cases of forcible execution in accordance with the law.
14. The Bank may, on its own motion, deduct from Client’s bank accounts any amounts due by the Client in connection with Bank’s receivables arising from existing agreements with the Client, such as repayments of principals and/or payment of interest on any loans granted; expenses; bank guarantees; including amounts due in case of accelerated repayment, and may collect from such accounts, on its own motion, any charges and commissions due by the Client to the Bank for payment services provided under this Framework Agreement, in accordance with the applicable Tariff of Charges and Commissions.
Rights and Obligations of the Bank. 5.1.1. The Bank has to calculate and accrue interest income on Depositor’s fund in accordance with the agreement.
5.1.2. The Bank has to ensure the security of the information of the Depositor and his/her account, transaction and shall not disclose such information to any parties under any other conditions, unless otherwise required by the law.
5.1.3. The Bank has to accept and execute the requests of agreement renewal, selection of other deposit product and opening accounts made by the Depositor.
5.1.4. Regardless of changes in the bank’s interest rate, the Bank has to calculate and accrue interest rate agreed by this agreement on account balance until maturity date.
5.1.5. The Bank will charge fees and commissions for account service in accordance with the General Terms and Conditions of the products and services.
5.1.6. Any transactions made through the account will be under certain monitoring in accordance with the relevant legislations within the Bank’s anti-money laundering and combating terrorism financing regulation.
5.1.7. In case of breach of the Law on “Anti-money laundering and combat terrorism financing” and other relevant regulations, the Bank has the right to delay the transaction or close deposit account.
Rights and Obligations of the Bank. Quyền của Bên Ngân hàng: Trực tiếp kiểm tra hoặc yêu cầu Bên thế chấp cung cấp thông tin về thực trạng và các thông tin khác liên quan đến Tài sản thế chấp; Đơn phương định giá lại Tài sản thế chấp và có quyền yêu cầu Bên thế chấp phải thay đổi, bổ sung tài sản bảo đảm hoặc thanh toán bớt khoản nợ trong trường hợp giá trị Tài sản thế chấp bị giảm sút như quy định tại Điều 3 Hợp đồng này. Nếu Bên thế chấp không thực hiện, Bên Ngân hàng được quyền xử lý Tài sản thế chấp để thu hồi nợ trước hạn; Có quyền yêu cầu Bên thế chấp thanh toán số tiền còn thiếu hoặc khởi kiện Bên thế chấp để truy đòi số tiền còn thiếu trong trường hợp Tài sản thế chấp đã được xử lý nhưng không đủ để Bên Ngân hàng thu nợ gốc, lãi vay và các chi phí liên quan phát sinh theo Văn kiện tín dụng nêu tại Khoản 1 Điều 2 Hợp đồng này; Bên Ngân hàng có các quyền khác theo thỏa thuận tại Hợp đồng này và theo quy định của pháp luật có liên quan. Nghĩa vụ của Bên Ngân hàng: Cấp tín dụng cho Bên thế chấp sau khi Bên thế chấp đáp ứng đủ các điều kiện, thủ tục theo yêu cầu của Xxx Xxxx hàng; Bên Ngân hàng có các nghĩa vụ khác theo thỏa thuận tại Hợp đồng này và theo quy định của pháp luật có liên quan. Quyền Và Nghĩa Vụ Của Bên Thế Chấp