Rights and Obligations of the Parties. 12.1. The client is obliged to: 12.1.1. for any kind of bank service/for use of bank product to pay the bank the commission fee and/or any other fee, necessary for receiving the bank service; 12.1.2. without undue delay shall promptly notify the bank on amendments to the submitted documents and information, including change of the contact information (legal/factual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted. Also, shall have means of communication and the network (among them mobile phone, computer, internet) in working/active conditions, otherwise the bank shall bear no responsibility for the results/damage; 12.1.3. promptly notify the bank in writing regarding disposal of the account, performing transactions on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction to the accounts on the basis of the previously submitted documents and the signature sample. 12.1.4. when opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status. 12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities; 12.1.6. when performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transaction/payment and submit to the bank any requested document (copies of documents proving grounds for transfer). 12.1.7. submit to the bank any requested document for performance of the transaction, which is needed by the bank for thorough identification of the client, for establishment of the nature of the transaction, purpose, type of transfer and compatibility of the subject transaction with the legislation. 12.1.8. notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount; 12.1.9. in advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences; 12.1.10. fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank; 12.1.11. provide to the bank information deriving from the requirements established by the agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)”; 12.1.12. compensate the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation; 12.1.13. use the payment instrument consistent with the terms established for such payment instrument; 12.1.14. follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument; 00.0.00. xx the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact. 12.1.16. periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions. 12.2. client is authorized to: 12.2.1. receive an abstract on the balance of the account and the performed transactions; 12.2.2. issue orders to the banks to carry out transactions at the accounts, which are not prohibited by the legislation; 12.2.3. use services/products offered by the bank; 12.2.4. terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank; 12.2.5. at any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing. 12.2.6. by using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank. 12.3. the bank is authorized to: 12.3.1. request any information and document from the client regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(s) exercised on the account(s) of the client/to be performed with the legislation. 12.3.2. perform transactions to the client’s account(s) under the regulations established by the legislation; 12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s); 12.3.4. at own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service; 12.3.5. not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation; 12.3.6. offset liabilities of the client to the bank through any liabilities owed by the client to the bank; 12.3.7. offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services; 12.3.8. store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force; 12.3.9. terminate the present agreement and/or any agreement processed on its basks and/or close any account of the client opened at the bank in the event: 12.3.9.1. the (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate; 12.3.9.2. any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached. 12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year; 12.3.9.4. closing the account is determined by the court decision; 12.3.9.5. the successor of the client presents the inheritance certificate; 12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis; 12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act; 12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;
Appears in 6 contracts
Samples: General Agreement for Rendering Banking Services to Individuals, General Agreement for Rendering Banking Services to Individuals, General Agreement for Rendering Banking Services to Individuals
Rights and Obligations of the Parties. 12.1. The client is obliged to:
12.1.1. for any kind of bank service/for use of bank product to pay Pay the bank the commission fee and/or any other fee, necessary for receiving the bank service for provision of any kind of bank service/for use of bank product;
12.1.2. without Without undue delay shall promptly notify the bank on amendments to the submitted documents and information, including change of the contact information (legal/factual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted. Also, shall have means of communication and the network (among them mobile phone, computer, internet) in working/active conditions, otherwise the bank shall bear no responsibility for the results/damage;
12.1.3. promptly Promptly notify the bank in writing regarding disposal of the account, performing transactions operations on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction operation to the accounts on the basis of the previously submitted documents and the signature sample.
12.1.4. when When opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status.
12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities;
12.1.6. when When performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transactionoperation/payment and submit to the bank any requested document (copies of documents proving grounds for transfer).
12.1.712.1.6. For completion of the operation, submit to the bank any requested document for performance of the transactiondocument, which is needed by the bank for thorough full identification of the client, for establishment the purpose to establish conformity of the nature of the transactionoperation’s contents, purpose, type of transfer and compatibility of the subject transaction pending operation with the legislation.
12.1.812.1.7. notify Notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount;
12.1.912.1.8. in In advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences;
12.1.1012.1.9. fully Fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank;
12.1.1112.1.10. provide to Provide the bank information deriving from the requirements established by of the “agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTAFATCA)”;
12.1.1212.1.11. compensate Reimburse the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation;
12.1.1312.1.12. use Use the payment instrument consistent with the terms established for such payment instrument;
12.1.1412.1.13. follow Follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument;
00.0.0012.1.14. xx In the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact.
12.1.1612.1.15. periodically Periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions.
12.2. The client is authorized entitled to:
12.2.1. receive an abstract Receive a statement on the balance of the account and the performed transactionsoperations;
12.2.2. issue Issue orders to the banks to carry out transactions perform operations at the accounts, which are not prohibited by the legislation;
12.2.3. use Use services/products offered by the bank;
12.2.4. terminate Terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank;
12.2.5. at At any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing.
12.2.6. by By using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank.
12.3. the The bank is authorized to:
12.3.1. request Request any information and document from the client (among them, information on client’s founders, beneficiary owner) regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(sexercised/pending operation(s) exercised on at the account(s) of the client/to be performed client with the legislation.
12.3.2. perform transactions Perform operations to the client’s account(s) under according to the regulations established by the legislation;
12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s);
12.3.4. at At own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service;
12.3.5. not Not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation;
12.3.6. offset Offset liabilities of the client to the bank through for any liabilities owed by the client to the bank;
12.3.7. offer Offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services;
12.3.8. store Store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force;
12.3.9. terminate Terminate the present agreement and/or any agreement processed on its basks basis and/or close any account of the client opened at the bank in the event:
12.3.9.1. the The (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate;
12.3.9.2. any Any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached. 12.
12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year;
12.3.9.4. closing the account is determined by the court decision;
12.3.9.5. the successor of the client presents the inheritance certificate;
12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis;
12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act;
12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;
Appears in 4 contracts
Samples: General Agreement for Rendering Banking Services to Legal Entities, General Agreement for Rendering Banking Services to Legal Entities, General Agreement for Rendering Banking Services to Legal Entities
Rights and Obligations of the Parties. 12.1. The client is obliged to:
12.1.1. for any kind of bank service/for use of bank product to pay Pay the bank the commission fee and/or any other fee, necessary for receiving the bank service for provision of any kind of bank service/for use of bank product;
12.1.2. without Without undue delay shall promptly notify the bank on amendments to the submitted documents and information, including change of the contact information (legal/factual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted. Also, shall have means of communication and the network (among them mobile phone, computer, internet) in working/active conditions, otherwise the bank shall bear no responsibility for the results/damage;
12.1.3. promptly Promptly notify the bank in writing regarding disposal of the account, performing transactions operations on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction operation to the accounts on the basis of the previously submitted documents and the signature sample.
12.1.4. when When opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status.;
12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities;
12.1.6. when When performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transactionoperation/payment and submit to the bank any requested document (copies of documents proving grounds for transfer).
12.1.712.1.6. For completion of the operation, submit to the bank any requested document for performance of the transactiondocument, which is needed by the bank for thorough full identification of the client, for establishment the purpose to establish conformity of the nature of the transactionoperation’s contents, purpose, type of transfer and compatibility of the subject transaction pending operation with the legislation.
12.1.812.1.7. notify Notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount;
12.1.912.1.8. in In advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences;
12.1.1012.1.9. fully Fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank;
12.1.1112.1.10. provide to Provide the bank information deriving from the requirements established by of the “agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTAFATCA)”;
12.1.1212.1.11. compensate Reimburse the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation;
12.1.1312.1.12. use Use the payment instrument consistent with the terms established for such payment instrument;
12.1.14. follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument;
00.0.00. xx the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact; 12.
12.1.16. periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions.
12.2. client is authorized to:
12.2.1. receive an abstract on the balance of the account and the performed transactions;
12.2.2. issue orders to the banks to carry out transactions at the accounts, which are not prohibited by the legislation;
12.2.3. use services/products offered by the bank;
12.2.4. terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank;
12.2.5. at any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing.
12.2.6. by using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank.
12.3. the bank is authorized to:
12.3.1. request any information and document from the client regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(s) exercised on the account(s) of the client/to be performed with the legislation.
12.3.2. perform transactions to the client’s account(s) under the regulations established by the legislation;
12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s);
12.3.4. at own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service;
12.3.5. not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation;
12.3.6. offset liabilities of the client to the bank through any liabilities owed by the client to the bank;
12.3.7. offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services;
12.3.8. store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force;
12.3.9. terminate the present agreement and/or any agreement processed on its basks and/or close any account of the client opened at the bank in the event:
12.3.9.1. the (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate;
12.3.9.2. any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached.
12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year;
12.3.9.4. closing the account is determined by the court decision;
12.3.9.5. the successor of the client presents the inheritance certificate;
12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis;
12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act;
12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;
Appears in 4 contracts
Samples: General Agreement for Rendering Banking Services to Legal Entities, General Agreement for Rendering Banking Services to Legal Entities, General Agreement for Rendering Banking Services to Legal Entities
Rights and Obligations of the Parties. 12.1. The client is obliged to:
12.1.1. for any kind of bank service/for use of bank product to pay the bank the commission fee and/or any other fee, necessary for receiving the bank service;
12.1.2. without undue delay shall promptly notify the bank on amendments changes and additions made to the submitted documents and informationinformation submitted to the bank, including among them on change of the contact information data (legal/factual actual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted). Also, shall have means of keep the devices necessary for communication and the network (among them mobile phone, computer, internet) in workingoperable/active conditionsregime. Otherwise, otherwise the bank shall bear no responsibility for the resultsconsequences/damagedamages caused for this reason;
12.1.3. promptly notify the bank in writing regarding disposal of the account, performing transactions on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction to the accounts on the basis of the previously submitted documents and the signature sample.
12.1.4. when opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status.
12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities;
12.1.6. when performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transaction/payment and submit to the bank any requested document (copies of documents proving grounds for transfer).
12.1.7. submit to the bank any requested document for performance of the transaction, which is needed by the bank for thorough identification of the client, for establishment of the nature of the transaction, purpose, type of transfer and compatibility of the subject transaction with the legislation.
12.1.8. notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount;
12.1.9. in advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences;
12.1.10. fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank;
12.1.11. provide to the bank information deriving from the requirements established by the agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)”;
12.1.12. compensate the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation;
12.1.13. use the payment instrument consistent with the terms established for such payment instrument;
12.1.14. follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument;
00.0.00. xx the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact.
12.1.16. periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions.
12.2. client is authorized to:
12.2.1. receive an abstract on the balance of the account and the performed transactions;
12.2.2. issue orders to the banks to carry out transactions at the accounts, which are not prohibited by the legislation;
12.2.3. use services/products offered by the bank;
12.2.4. terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank;
12.2.5. at any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing.
12.2.6. by using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank.
12.3. the bank is authorized to:
12.3.1. request any information and document from the client regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(s) exercised on the account(s) of the client/to be performed with the legislation.
12.3.2. perform transactions to the client’s account(s) under the regulations established by the legislation;
12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s);
12.3.4. at own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service;
12.3.5. not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation;
12.3.6. offset liabilities of the client to the bank through any liabilities owed by the client to the bank;
12.3.7. offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services;
12.3.8. store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force;
12.3.9. terminate the present agreement and/or any agreement processed on its basks and/or close any account of the client opened at the bank in the event:
12.3.9.1. the (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate;
12.3.9.2. any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached.
12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year;
12.3.9.4. closing the account is determined by the court decision;
12.3.9.5. the successor of the client presents the inheritance certificate;
12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis;
12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act;
12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;
Appears in 4 contracts
Samples: General Agreement for Rendering Banking Services to Individuals, General Agreement for Rendering Banking Services to Individuals, General Agreement for Rendering Banking Services
Rights and Obligations of the Parties. 12.1. The client is obliged to:
12.1.1. for any kind of bank service/for use of bank product to pay Pay the bank the commission fee and/or any other fee, necessary for receiving the bank service for provision of any kind of bank service/for use of bank product;
12.1.2. without Without undue delay shall promptly notify the bank on amendments to the submitted documents and information, including change of the contact information (legal/factual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted. Also, shall have means of communication and the network (among them mobile phone, computer, internet) in working/active conditions, otherwise the bank shall bear no responsibility for the results/damage;
12.1.3. promptly Promptly notify the bank in writing regarding disposal of the account, performing transactions operations on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction operation to the accounts on the basis of the previously submitted documents and the signature sample.
12.1.4. when When opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status.;
12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities;
12.1.6. when When performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transactionoperation/payment and submit to the bank any requested document (copies of documents proving grounds for transfer).
12.1.712.1.6. For completion of the operation, submit to the bank any requested document for performance of the transactiondocument, which is needed by the bank for thorough full identification of the client, for establishment the purpose to establish conformity of the nature of the transactionoperation’s contents, purpose, type of transfer and compatibility of the subject transaction pending operation with the legislation.
12.1.812.1.7. notify Notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount;
12.1.912.1.8. in In advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences;
12.1.1012.1.9. fully Fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank;
12.1.1112.1.10. provide to Provide the bank information deriving from the requirements established by of the “agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTAFATCA)”;
12.1.1212.1.11. compensate Reimburse the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation;
12.1.1312.1.12. use Use the payment instrument consistent with the terms established for such payment instrument;
12.1.1412.1.13. follow Follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument;
00.0.0012.1.14. xx In the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact.
12.1.1612.1.15. periodically Periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions.
12.2. The client is authorized entitled to:
12.2.1. receive an abstract Receive a statement on the balance of the account and the performed transactionsoperations;
12.2.2. issue Issue orders to the banks to carry out transactions perform operations at the accounts, which are not prohibited by the legislation;
12.2.3. use Use services/products offered by the bank;
12.2.4. terminate Terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank;
12.2.5. at At any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing.
12.2.6. by By using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank.
12.3. the The bank is authorized to:
12.3.1. request Request any information and document from the client (among them, information on client’s founders, beneficiary owner) regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(sexercised/pending operation(s) exercised on at the account(s) of the client/to be performed client with the legislation.
12.3.2. perform transactions Perform operations to the client’s account(s) under according to the regulations established by the legislation;
12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s);
12.3.4. at At own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service;
12.3.5. not Not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation;
12.3.6. offset Offset liabilities of the client to the bank through for any liabilities owed by the client to the bank;
12.3.7. offer Offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services;
12.3.8. store Store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force;
12.3.9. terminate Terminate the present agreement and/or any agreement processed on its basks basis and/or close any account of the client opened at the bank in the event:
12.3.9.1. the The (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate;
12.3.9.2. any Any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached. 12.
12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year;
12.3.9.4. closing the account is determined by the court decision;
12.3.9.5. the successor of the client presents the inheritance certificate;
12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis;
12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act;
12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;
Appears in 2 contracts
Samples: General Agreement for Rendering Banking Services to Legal Entities, General Agreement for Rendering Banking Services
Rights and Obligations of the Parties. 12.1. The client is obliged to:
12.1.1. for any kind of bank service/for use of bank product to pay the bank the commission fee and/or any other fee, necessary for receiving the bank service;
12.1.2. without undue delay shall promptly notify the bank on amendments to the submitted documents and information, including change of the contact information (legal/factual address, telephone number, email etc.) otherwise the notification sent to the address known to the bank shall be deemed as submitted. Also, shall have means of communication and the network (among them mobile phone, computer, internet) in working/active conditions, otherwise the bank shall bear no responsibility for the results/damage;
12.1.3. promptly notify the bank in writing regarding disposal of the account, performing transactions on the account, on change of the persons authorized to receive information about the account and/or charge of their authorization and submit respective written documents to the bank. The obligation to notify outlined in the indicated clause applies to all those documents submitted to the bank and under which the client is authorized to act on his/her own behalf. Prior to submission of these documents to the bank, the bank performs transaction to the accounts on the basis of the previously submitted documents and the signature sample.
12.1.4. when opening each account, to submit the bank requested documents regarding client’s tax/entrepreneurial status. Also, promptly notify on change of the above indicated status.
12.1.5. use the accounts opened by the bank for him/her for the entrepreneurial purposes only in the event he/she has a relevant tax/entrepreneurial status and the bank is preliminarily informed on this. Otherwise, the client is requested not to use his/her accounts for entrepreneurial activities;
12.1.6. when performing transactions to the account(s), to submit full, exhaustive and accurate information to the bank on the purpose of the transaction/payment and submit to the bank any requested document (copies of documents proving grounds for transfer).
12.1.7. submit to the bank any requested document for performance of the transaction, which is needed by the bank for thorough identification of the client, for establishment of the nature of the transaction, purpose, type of transfer and compatibility of the subject transaction with the legislation.
12.1.8. notify the bank about accidentally transferred money to his account within 1 (one) banking day after receiving information on transfer of money accidentally to his/her account and return back such amount;
12.1.9. in advance and promptly inform the bank on change of citizenship/residence, moving registration to the other country, exiting tax regulations of Georgia, registering at the other country or at the offshore zone, or any such circumstance which substantially changes its legal/tax payers status throughout the territory of Georgia. In case any of the indicated circumstances occur, the bank shall be authorized to terminate the present agreement prior to the due date and/or any other agreement/covenant processed on its basis, with associated legal consequences;
12.1.10. fully abide by the terms and conditions set forth herein and the regulations/procedures for use of bank products established by the bank;
12.1.11. provide to the bank information deriving from the requirements established by the agreement “between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)”;
12.1.12. compensate the bank any kind of damage incurred to the bank as a result of breach of terms of the present agreement and/or any other agreement/covenant processed under such agreement and/or requirements of the legislation;
12.1.13. use the payment instrument consistent with the terms established for such payment instrument;
12.1.14. follow the payment instrument security measures assigned to him, ensure protection of personified means of such instrument;
00.0.0012.1.15. xx in the event of losing, stealing, illegitimate appropriation or revealing the fact of the illegitimate use of the payment instrument, within the shortest period after disclosure, notify the bank or the person determined by the bank on such fact.
12.1.16. periodically become familiar with the information posted at the web page of the bank, among them, statements, changes and additions.
12.2. client is authorized to:
12.2.1. receive an abstract on the balance of the account and the performed transactions;
12.2.2. issue orders to the banks to carry out transactions at the accounts, which are not prohibited by the legislation;
12.2.3. use services/products offered by the bank;
12.2.4. terminate the present agreement under the rule established by the present agreement, by means of sending preliminary written notice to the bank;
12.2.5. at any time, to apply with the respective application and request termination of particular banking product/service, among them closing the account, only in case, the client does not have any unfulfilled liability (financial or any other) deriving from the particular banking product/service owed to the bank. Furthermore, the bank is entitled, in case the client requests to close his/her/its card account(s), not to close those account(s) for 30 (thirty) calendar days. As of the moment of receiving the client’s application regarding accounts to be closed, all commission fees (if any) stop accruing.
12.2.6. by using any remote channel/electronic means of communication of the bank, submit the request to receive the copy of the credit/deposit product agreement processed between the client and the bank (among them credit/deposit product agreement received by means of remote channels) and receive the copy of the respective agreement remotely and/or at the relevant branch/service center of the bank.
12.3. the bank is authorized to:
12.3.1. request any information and document from the client regarding opening the account, for the purpose of full identification of the client and establishing conformity of the transaction(s) exercised on the account(s) of the client/to be performed with the legislation.
12.3.2. perform transactions to the client’s account(s) under the regulations established by the legislation;
12.3.3. under the order of the client and/or without, under the regulations of the present agreement and those envisaged by the legislation, write-off amounts from the client’s account(s);
12.3.4. at own discretion and/or in cases envisaged by the legislation, refuse the client to provide account service;
12.3.5. not perform the order of the client, in the event the client fails to produce the information requested by the bank and/or the bank suspects the inconformity of the transaction with the legislation;
12.3.6. offset liabilities of the client to the bank through any liabilities owed by the client to the bank;
12.3.7. offer the client, using remote channels (among them, internet bank, ATM, telecommunication means etc.) and offer and activate various bank products and services;
12.3.8. store the communication of the client with the bank (both material and electronic) and telephone records. Furthermore the client confirms that the data (information) outlined in the present clause may be used by the bank as a proof, it represents the ownership of the bank and has a legal force;
12.3.9. terminate the present agreement and/or any agreement processed on its basks and/or close any account of the client opened at the bank in the event:
12.3.9.1. the (documented and/or electronic) information about the client existing at the bank and/or submitted by the client turns out to be inaccurate;
12.3.9.2. any of the conditions precedent, additional conditions and/or any request of the bank to the client are breached.
12.3.9.3. there is no amount of commission fee on the account determined by the bank and necessary for account servicing and/or closing and there will be no transaction performed on the account for at least one year;
12.3.9.4. closing the account is determined by the court decision;
12.3.9.5. the successor of the client presents the inheritance certificate;
12.3.9.6. the client breaches terms and obligations envisaged by the present agreement and/or other agreement/covenant processed on its basis;
12.3.9.7. the client refuses to submit/does not submit in the period determined by the bank and/or provides inaccurate/incomplete information deriving from the requirements of the “agreement between the Government of Georgia and US Government to improve the international payment obligations and enforce foreign account tax consistency act (FACTA)” and/or otherwise violates the requirements deriving from the indicated act;
12.3.9.8. the indicated is envisaged by the present agreement and Georgian legislation;; 12.
Appears in 1 contract
Samples: General Agreement for Rendering Banking Services to Individuals
