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Service Terms
Terms and Conditions for iT's Banking Services
These terms and conditions shall apply to and regulate the service of ITS and the giving of Telephone Banking Instructions by the Customer to the Bank.
1.Definition and Interpretation
1.1 In these terms and conditions, unless the context otherwise requires:
"Agreed Signing Arrangement" means the signing arrangement set out in the Bank of China Limited Macau Branch- the "Agreement for iT's Banking Services" , as the same may be amended from time to time upon written notice to and accepted by the Bank , in respect of all communications and documents relating to ITS or TBI.
"Bank" means Bank of China Limited Macau Branch.
"Agreement" means the Agreement duly signed by the Customer addressed to the Bank applying for the provision of ITS or TBI.
"Business Day" means any day on which banks in Macau SAR are open for business.
"Customer" means the person who has entered into the "Agreement for iT's Banking Services" with the Bank.
"Electronic Input" means any electronic signals given to the Bank by the use of telephone, machines or computer terminals or other equipment as the Bank may from time to time require or specify and received and recognizable by the computer system of the Bank.
"Instruction" means either ITS Instruction or Telephone Banking Instruction.
"ITS" means the iT's Banking Services provided by the Bank to the Customer whereby the Customer may carry out banking transactions with or obtain banking services from the Bank after quoting the ITS Number and ITS Password orally over the telephone or by means of the Electronic Input.
"ITS Instruction" means any instruction given to the Bank either by way of Electronic Input or orally over the telephone after the Customer has complied with the requirements or procedures set out in Clause 4.3 below of these Conditions.
"ITS Number" means the identification or customer number assigned by the Bank to the Customer for the purpose of ITS.
"ITS Password" means any of the personal identification number(s) assigned by the Bank to the Customer and the number(s) subsequently re-selected by the Customer for the purpose of carrying out Transactions with the Bank by ITS.
"Password" means ITS Password and/or TBI Password.
"Settlement Account" means, in relation to ITS, the account denominated in the Macau SAR or other country/region currency which is agreed by the Bank, particulars of which are set out in this Agreement.
"Transaction" means such type of banking transactions or services which the Bank may from time to time in its absolute discretion designate as being accessible either through ITS or by means of Telephone Banking Instruction or both.
"Telephone Banking Instruction" means any oral instruction given to the Bank over the telephone after the Customer has complied with the requirements or procedures set out in the Clause 4.4 below of these Terms and Conditions.
"TBI Password" means any of the personal identification number(s) assigned by the Bank (including any other number(s) as from time to time re-assigned by the Bank) for the purpose of carrying out Transaction through Telephone Banking Instructions.
"Terms and Conditions" means these Terms and Conditions, as the same may be amended or varied from time to time.
1.2 Headings are inserted in these Terms and Conditions for convenience of reference only and shall not affect the construction of the provisions of these Terms and Conditions.
1.3 Unless the context otherwise requires:
(a) Words denoting the singular include the plural and vice versa;
(b) Words importing a gender include every gender;
(c) the word "person" includes all legal entities or persons with or without legal personality.
1.4 The English version of these Terms and Conditions is for reference only and if there is any conflict between the Chinese and English versions, the Chinese version shall prevail.
2.Scope of ITS and services accessible by Telephone Banking Instructions
2.1 The Bank may from time to time and at any time designate or re-designate the scope of the Transaction which is accessible by means of ITS and/or Telephone Banking Instructions.
2.2 The Bank may at any time in its absolute discretion without prior notice and without giving any reason, refuses to execute any Instruction or withdraw any Transaction from being accessible by ITS or Telephone Banking Instructions and may, if it deems fit so to do, cancel or suspend ITS or any part thereof which is available through certain specific approved media.
2.3 The Bank may at any time in its absolute discretion, accepts Instructions from the Customer to act as the agent of the Customer to effect other transactions on behalf of the Customer with other third party. In such event, the only duty of the Bank is to transmit or communicate the instruction to the third party and once such instruction is given, the Bank shall be deemed to have fully discharged its duty. The Bank shall not be in any way or under any circumstances or conditions liable or responsible howsoever, whether in any law or in equity, for the act, default, omission, failure, non-performance, delay, fraud or negligence of such third party (including but not limited to any failure or delay of such third party in executing the Bank's instruction given on behalf of the Customer). The Customer acknowledges and confirms hat such transaction effected by the Bank as his agent with the third party is subject to the terms and conditions applicable to that specific transaction and for the purpose of effecting such transaction with the third party the Bank is authorized to disclose any information relating to the Customer to such third party.
2.4 The Customer hereby authorizes the Bank to obtain details of his/her credit card account held with BOC Credit Card (International) Ltd. so that the Customer may operate such account by means of this system.
2.5 The Customer acknowledges that the use of ITS and/or Telephone Banking Instructions to carry out Transactions is a service provided by the Bank and in the event of ITS or the media through which the Instruction may be given to or received by the Bank is suspended or cancelled for whatsoever reason, the Customer shall have no claim whatsoever against the Bank and shall use other available means to effect the required Transaction.
3.Terms & Conditions for Any Specific Transaction
3.1 In using ITS or Telephone Banking Instructions to carry out any Transaction, in addition to these terms and conditions, terms and conditions that govern the relevant type of Transaction shall remain applicable in respect of such Transaction and the Customer acknowledges that he shall continue to observe and is bound by the same.
3.2 In case of any conflict between such terms and conditions that regulate the relevant type of Transaction and these terms and conditions:
(a) where the relevant specific terms and conditions for the Transaction provide for the priority between these terms and conditions and the relevant specific terms and conditions, such priority should be given effect to determine the question of which terms and conditions shall prevail;
(b) where the relevant specific terms and conditions for the Transaction do not provide for the priority between these terms and conditions and the relevant specific terms and conditions, the latter shall prevail.
4.Use of ITS and Telephone Banking Instructions
4.1The Customer shall at his own cost and expense apply for, install, obtain and maintain suitable equipment to obtain access to ITS or (as the case may be) to give Telephone Banking Instructions to the Bank.
4.2The Customer have/shall register with such communication network provider and apply for such equipment as the Bank may designate. The arrangement between the Customer and such communication network provider is solely the Customer's responsibility.
4.3All ITS Instructions shall be given in the following manner:
(a) only to those relevant access numbers designated by the Bank from time to time for the purpose of ITS, before accessing to the services by means of the mobile communication system, or by the use of machines or computer terminals or other equipment approved by the Bank for access to ITS; and
(b) at the request of the Bank (such request may be represented by electronic image or digitized voice or other electronic form, as the case may be), the Customer shall input by Electronic Input or quote verbally over the telephone:
(i) his ITS Number; and
(ii) his ITS Password which is relevant to ITS; and/or
(iii)any other information relating to the identity of the Customer (such as identity card number); and
(c)at the request of the Bank (represented as aforesaid), the Customer shall select the type of Transaction required and shall quote or input the information and detail so requested by the Bank.
4.4Telephone Banking Instructions shall be given in the following manner :
(a)only to those relevant access telephone numbers designated by the Bank from time to time for receiving Telephone Banking Instructions in respect of the relevant intended Transaction; and
(b)at the request of the Bank, the Customer shall input by Electronic Input and/or quote verbally over the telephone :
(i)his TBI Password; and/or
(ii)the name of account to which the intended Transaction relates; and/or
(iii)any other information relating to the identity of the Customer (such as identity card number); and
(c)at the request of the Bank, the Customer shall input by Electronic Input and/or quote verbally over the telephone the information of the type of Transaction required and/or such other information and details so requested by the Bank.
4.5The Customer agrees that any alteration, modification or cancellation of ITS Instructions given by the Bank via such mobile communication system must be dispatched by the same mobile communication system, unless otherwise specifically agreed to by the Bank. The Customer is aware that the Bank may, choose other medium to communicate with him in respect of transactions effected via such mobile communication system.
4.6Subject to the Bank's right not to accept any Instruction as set out in Clause 2.2 of these Terms and Conditions, all Instructions once given pursuant to Clause 4.3 or 4.4 (as the case may be) of these Terms and Conditions shall be irrevocable and conclusively binding on the Customer irrespective whether or not such Instructions are given by the Customer personally or by any other person on his behalf whether authorized or unauthorized.
5.Acceptance and Execution of Instructions
5.1 For any Instruction, upon receipt of the information set out in Clause 4.3 or Clause 4.4 (as the case may be) of these Terms and Conditions , the Bank shall be entitled to deem that the ensuing Instruction emanates from the Customer. The Customer shall be liable for all Transactions effected and all liabilities incurred pursuant to such Instruction.
5.2 Unless otherwise agreed at the relevant time, only Instructions relating to the Transaction will be accepted or effected by the Bank. However, if Instruction is given in respect of other arrangements and is accepted or effected by the Bank for any reason whatsoever, such Instruction and the arrangement effected or executed pursuant thereto shall be binding on the Customer.
5.3 Instructions would only be accepted and effected for any particular type of Transaction if such is given within the time determined by the Bank in its absolute discretion, which the Bank accepts instructions for that particular type of Transaction.
5.4 The Customer is aware that there may be error, delayed or incomplete transmission and acknowledge that, save for manifest error, the books and records of the Bank shall for all purposes be the conclusive evidence of any particular transaction.
5.5 The Customer undertakes to check if any particular transaction is effected and further declare that he is aware that due to the system set-up, certain Transactions may be automatically rejected, the Customer shall be solely responsible for those risks.
5.6 Notwithstanding any provision to the contrary governing the specific Transaction to be transacted, the Bank shall be entitled to place any order or enter into or execute any arrangement or effect any account entry for the purpose of carrying out any Instruction without first ascertaining (i) whether there is sufficient fund or available pre-arranged credit in the account specified by the Customer; and/or (ii) the existence or adequacy in the Customer's account of the items which are the subject matter intended to be executed pursuant to the Instruction.
5.7 Instruction will not be accepted or effected if there is insufficient fund or pre-arranged credit or inadequate items available in the account specified by the Customer for the intended Transaction. The Bank shall not howsoever be liable for any consequence arising out of the failure of the Bank to execute any Instruction due to insufficient fund or available pre-arranged credit or inadequate items.
5.8 Notwithstanding that there is insufficient fund or pre-arranged credit or inadequate items in the account nominated by the Customer, and irrespective of any term and accommodation of the specific Transaction intended to be transacted providing to the contrary, the Bank may, at its absolute discretion, accept and execute Instruction without prior notice to or approval of the Customer.
The Customer shall be liable for the resulting debit balance or overdraft, advance or credit (or any increase in the same) and all standard charges of the Bank relating thereto. Such debt shall be repayable to the Bank on demand together with interest thereon, from the date of execution of the relevant Instruction to the date of actual repayment (whether before or after judgement), both days inclusive, at a rate applicable to unauthorized overdraft which shall be determinated by the Bank.
5.9 Whilst any debt exists pursuant to Clause 5.8 of these Terms and Conditions, the Bank shall be entitled (but not obliged) without giving notice to the Customer to enter into such other Transaction at such time and for such pricing as it deems necessary (but without any duty to obtain the best price) to set-off or counter the Transaction effected pursuant to the Instruction. Any loss, damage, liability or expense suffered or incurred by the Bank as a result thereof shall be the Customer's liability and debited to any account of the Customer as the Bank shall select but any gain shall belong absolutely to and be retained by the Bank for its own use and benefit. The Bank's certificate in writing as to the amount of such loss, damage, liability or expense shall be binding and conclusive against the Customer.
5.10 Without prejudice to Clause 5.3 of these Terms and Conditions, notwithstanding that Instruction may be received by the Bank outside the normal banking hours in Macau SAR and be carried out immediately, the relevant Transaction effected immediately pursuant to the Instruction may be deemed to take effect on the next succeeding day if the Bank so determines.
5.11 For transferring fund out of any account by ITS or Telephone Banking Instruction, the Bank shall accept no responsibility or liability if the receiving bank refuses to make or delays in making the transferred fund available to the intended transferee for whatever reason.
6.Advice and Conclusive Evidence
6.1
(a)Unless otherwise determined by the Bank, no advice in respect of the Transactions effected by ITS Instructions ("ITS Transactions") would be sent by the Bank. In the event that the Bank determines that advice setting out certain ITS Transactions which involve the deposit of money into and/or withdrawal of money from account effected by the Bank pursuant to ITS Instructions be sent to the Customer, such advice will be sent to the Customer monthly for the Customer's record, or at the request of the Customer awaiting Customer's collection. In the latter situation, the advice is kept at the bank deemed sent to the Customer.
(b)If the relevant ITS Instruction was given by the Customer during any monthly period, and the Customer does not receive the advice within 5 Business Days (for Customer with an address outside Macau SAR, 10 Business Days) after this period, the Customer shall give the Bank a notice of non-receipt (in the form acceptable to the Bank). Such notice of non-receipt must be actually received by the Bank within 7 Business Days (for Customer with an address outside Macau SAR, 20 Business Days) after the monthly period.
(c)The Customer shall have the duty to check and verify the contents of the advice and shall report any error or omission or discrepancy shown thereon within 7 Business Days (for Customer with an address outside Macau SAR, 20 Business Days) after the monthly period or 7 Business Days (for Customer with an address outside Macau SAR, 20 Business Days) after the date of re-issuing advice (in the case of a notice of non-receipt being issued by the Customer). Otherwise the Customer is deemed to have confirmed the contents shown on the advice notwithstanding that in the meantime the Customer may not have the opportunity to verify the account statement or passbook (as the case may be) of the relevant ITS Transaction.
(d)In the event that the Customer requests the Bank not to issue to him the advice of ITS Transaction, and the application is agreed to by the Bank, the Customer shall have the duty to verify the record of ITS Transactions posted in the relevant account statement or passbook (as the case may be).
(e)The advice, at the request of the Customer awaiting Customer's collection, is kept by the Bank for one month (the period can be amended by the Bank at any time and from time to time without giving prior notice to the Customer). After this period, the Bank can arrange the advice with its own method without prior notice to the Customer if the Customer does still not collect the advice.
6.2The Bank is hereby authorized to appropriate independent entry to the account nominated by the Customer for the relevant Transaction executed by means of ITS or Telephone Banking Instructions.
6.3The Customer acknowledges that all Instructions may be recorded. The books and records of the Bank in respect of any Instruction and/or the execution thereof shall be conclusive evidence (save and except manifest error) against the Customer in all courts of law and for all purposes.
7.Proceeds of Transaction effected by means of ITS or Telephone Banking Instructions
7.1Unless otherwise agreed by the Bank, the proceeds of any Transaction effected by ITS or Telephone Banking Instructions which is due to the Customer shall only be credited to an account or placed on deposit with the Bank in the same name as the Customer.
7.2If the Bank receives any query, claim or dispute (whether with good cause or otherwise) in respect of the proceeds of any Transaction, the Bank may (but not under any duty to do so) in its absolute discretion refuses to permit or effect any withdrawal of and/or dealing howsoever with the proceeds of any Transaction until the dispute or query in respect of the relevant Transaction is clarified to the satisfaction of the Bank.
8.Limits for Transactions by means of ITS or Telephone Banking Instructions
8.1The Bank may at any time and from time to time by prior notice to the Customer impose an upper and/or minimum daily overall and/or individual transaction limit in terms of the amount, quantity or currency for Transactions effected by ITS or Telephone Banking Instructions, but may waive or vary such limit in respect of any Transaction if it deems fit so to do.
8.2Unless otherwise agreed to by the Bank, Instructions are limited to instructions in respect of Transactions (other than financial information inquiries) to be made or effected between different accounts in the same name of the Customer.
8.3The Customer hereby agrees and acknowledges that any ITS arrangement involving payment as between different accounts (whether of the Customer or of any third party(ies)) will only be accepted if such arrangement has been approved by the Bank and is subject to such preset daily transfer or withdrawal limit(s) and procedures as determined by the Bank from time to time. For the avoidance of doubt, where a lower daily maximum amount is authorized for any account(s) in the name of third party(ies), such lower daily maximum amount shall prevail over daily limit preset by the Bank.
8.4The Customer acknowledges that ITS operates on a numerically based system and where the Customer gives ITS Instruction to the Bank involving payment as between different accounts, the Bank may act on the number(s) of the account(s) given by the Customer by means of Electronic Input and shall not be under any duty to verify whether any account number so given is corresponding to the name of the account holder of the such account.
9.Password
9.1The Customer hereby undertakes to keep the Password secret.
9.2The Customer acknowledges that the Password may be issued to him in person at the Bank or in such other manner as the Bank may determine. In relation to ITS, where the Bank in its discretion requires, a new ITS Password may have to be re-selected by the Customer prior to having access to effect other Transactions. In relation to Telephone Banking Instruction, unless the Bank otherwise agrees, the Customer shall not be allowed to unilaterally re-select TBI Password.
9.3Upon the loss or any actual or possible unauthorized use of the Password, the Customer shall immediately notify the Bank in writing, duly signed in accordance with the Agreed Signing Arrangement. Until the actual receipt by the Bank of such notice, all Transactions made by ITS or Telephone Banking Instructions by inputting or quoting the relevant Password shall be deemed Transactions made by the Customer.
9.4The Customer hereby acknowledges that there are risks for the Password being used by unauthorized persons or for unauthorized purposes and agrees to bear such risks absolutely.
10.Information
10.1All information (including but not limited to exchange rate, interest rate, market prices for securities and precious metals) quoted by the Bank in the course of effecting a Transaction shall remain as a reference only and shall not be binding on the Bank until confirmed by the Customer within the time prescribed for confirming the Transaction.
10.2The Customer agrees and acknowledges that the stock price information quoted for the Securities is provided by the Bank or such other information providers as selected by the Bank. Whilst every effort will be made to ensure accuracy and reliability of information provided, the Bank and the Hong Kong exchanges and Clearing Limited and/or other information provider(s) do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
11.Charges
11.1The Bank shall be entitled to charge fees for making ITS or the use of Telephone Banking Instructions available to the Customer and/or the handling of Instructions. The Bank shall determine or amend such charges unilaterally at any time. The Customer hereby authorizes the Bank to deduct such fees from the Settlement Account and such other account(s) maintained by the Customer with the Bank.
11.2The Bank shall be entitled to retain for its own account and benefit all profits, rebates, commissions, fees, benefits or other advantage (if any), arising out of or in connection with the Bank's provision of ITS or acceptance of Telephone Banking Instructions and the Transactions effected pursuant to Instructions.
12.Liability of the Bank
12.1The Bank shall not be liable for any loss or damage suffered by the Customer or any other person as a result of :
(a)the cancellation of the provision of ITS or any part thereof or the disallowing the use of Telephone Banking Instructions; and/or
(b)the withdrawal or suspension of any Transaction from being accessible by ITS or Telephone Banking Instructions or for any failure to effect or execute any of the Instruction whether it is attributable, either directly or indirectly, to any circumstances or events outside the control of the Bank; and/or
(c)any mechanical, electronic or other failure, malfunction, interruption, inaccuracy or inadequacy of the Bank's telecommunication or computer system or other equipment or its installation or erroneous transmission of any Instruction or any error in the execution of any Instruction (except gross negligence or willful misconduct of the Bank's authorized officers) nor for any delay, loss (including loss of profit or any economic loss), expenses or damages whatsoever incurred or suffered by the Customer as a result thereof.
(d)any delay, interruption or suspension howsoever caused by any third party(ies) (including but not limited to service providers or equipment suppliers), which interferes with, affects or disrupts the performance of the Bank hereunder.
13.Indemnity from the Customer
13.1The Customer shall indemnify and keep the Bank indemnified from and against all losses, damages, expenses (legal or otherwise), actions, demands, claims, proceedings (whether actual or contingent), whatsover which the Bank may suffer, incur or sustain, as a result of arising out of the Transaction effected by ITS or the use of Telephone Banking Instructions or the provision of ITS to the Customer. The Customer shall pay to the Bank on demand all sums (whether actual or contingent) so suffered, incurred or sustained by the Bank (whose determination shall be conclusive and binding on the Customer) together with interest accrued thereon from the date when the same were first paid or incurred by the Bank until actual payment in full by the Customer at a rate applicable to unauthorized overdraft which shall be determinated by the Bank.
14.Notice
14.1Any notice or other communication to the Customer in connection with any ITS may be given by the Bank to the Customer orally, in writing , by electronic signals or by advertisement in the newspaper or through such other means as the Bank deems fit.
14.2Oral notice or communication shall be deemed to have duly given to and received by the Customer when any officer or agent acting for the Bank verbally notify, whether in person or through the telephone, to the Customer or (as the case may be) any individual comprising the Customer or any one of his Authorized Signatory(ies).
14.3Written notice or communication shall be deemed to have been duly sent to and received by the Customer: (a) if delivered personally, at the time of such delivery; (b) if sent by letter postage prepaid, 48 hours after posting (for Customer with an address outside Macau SAR, 7 days after posting); (c) if sent by facsimile, at the time of dispatch; and (d) if sent by any other telecommunication means, at the time of dispatch.
14.4Any written notice or communication from the Bank to the Customer shall be deemed duly sent to the Customer at the address or facsimile number of the Customer last on record with the Bank.
14.5If the Customer consists of more than one person, any written notice or other communication to be sent to the correspondent address of the Customer last record in the Bank or to any one person comprising the Customer at the last known address of such individual from time to time, shall be deemed effectively sent to the Customer.
14.6In addition to the manner of giving the notice as provided in Clause 14.1, all notices and announcements by the Bank shall be deemed duly made and effectively communicated to the Customer if the Bank shall have put or displayed notice thereof at the banking hall of the branch or such of its sub-branches as the Bank may in its absolute discretion determine for 3 consecutive Business Days.
14.7Any notice or communication from the Customer to the Bank shall be in writing and duly signed as per the Agreed Signing Arrangement. Such notice shall be addressed and delivered to the Bank at its principal place of business or such branch or sub-branches in Macau SAR for the time being selected by the Bank and notified to the Customer, shall be deemed to have been received only upon actual receipt by the Bank.
15.Miscellaneous
15.1Where the Customer is more than one person , their liabilities hereunder shall be joint and several.
15.2Each of the clauses and provisions of the Agreement and/or the relevant Terms and Conditions is severable and distinct from the others and if at any time one or more of such clauses or provisions is or becomes invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.
16.Amendments to these Terms and Conditions
16.1The provisions or schedules contained in the Agreement and/or relevant Terms and Conditions can be amended at any time in such manner and to such extent as the Bank may from time to time in its absolute discretion think fit. Notice of such amendment shall be deemed duly and effectively given to the Customer in accordance with Clause 14 above. Any amendment to such Terms and Conditions made by the Bank shall take effect and be binding on the Customer immediately upon notice to the Customer.
17.Law
17.1These Terms and Conditions shall be governed by and construed in accordance with the laws of Macau SAR.
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