The Terms and Conditions of Account Opening and Arrangement of PT Bank OCBC NISP Tbk including its amendments and/or its renewals ("Terms and Conditions") governs the legal relationship between PT Bank OCBC NISP Tbk, a banking company that has been registered and supervised by the Financial Services Authority ("Bank"), and private person (persons)/body (bodies) who is/are the prospective or the holder of Account or with a power of attorney from the Customer or Customer's agent ("Customer") in connection with the purchase and placement of all products and services available to the Customer at present or in the future.
In these terms and conditions, unless otherwise stated in their context, the terms below shall have the following meanings:
"American Style" is the Underlying Reference movements that will be observed "at any time" starting from the Transaction Date to the Determination Date and Time.
"ATM (Automated Teller Machine)" is a means of electronic transactions owned by the Bank and/or other parties in cooperation with the Bank to facilitate the Customer in conducting banking transactions.
“Biometric Data” refers to fingerprints, irises, body movements, height, and other visible characteristics of an individual.
"Custodian Bank" means the party providing securities depository services and other assets relating to securities and other services (including receiving dividends, interests, and other rights) settlement of securities transactions, and representing account holder as its Customer. In this case the Custodian Bank must not be an affiliated party to the Investment Manager.
"Bank Order Rate" is exchange rate that is paired/monitored by the Bank from the FX Leave Order placement by the Customer. Customer orders will be executed if The Bank order rate is reached/occurred in the foreign exchange market, but the executed order will be settled with the Customer Order Rate.
"Bonus/ Payout" is an additional return of placement of Structured Product that will be received by the Customer in accordance with the specific provisions associated with the Underlying Reference movement during the Observation Period for the American Style, or based only on the Underlying Reference movement at the Date and Time of Determination for the European style.
"Futures Exchange" is a place/facility for the contracts of selling and buying of a number of financial instruments at a specified price which is agreed to be delivered in the future.
"Minimum Interest" is the amount of interest rate guaranteed to be given to the Customer during investment period.
"Tanya OCBC NISP" is banking service of the Bank that can be accessed by phone/mobile phone that aims to provide convenience for both Customers and non-Customers. Tanya OCBC NISP 1500999 (from Domestic) or + 62-21-26506300 (from overseas).
"Close Out" is the Bank’s action to calculate compensation of loss/costs due to the termination of a transaction, which is caused by the failure of the Customer to add Cash Margin or the occurrence of any Events of Default.
"Direct Settlement" for FX Leave Order is the process of completing an executed FX Leave Order transaction which is carried out directly by the system, where the source of funds for the settlement of the FX transaction derives from and has been available in the Customer's relationship account.
"European Style" is the Underlying Reference movement that will be observed only on the Determination Date and Time.
"Extended FMCT Forward" is a foreign exchange transaction for which the transaction period can be extended on the due date if the Customer wishes to keep the short position open.
"Force Majeure" are events that occur beyond human capability and power that directly affect the execution of a transaction, including but not limited to changes in the national situation, government policy, politics, military, war, riots, natural disasters, mass strike, national disasters, epidemics, terrorism, insurgence, floods, large fires, power and telecommunications disruptions.
"Full Movement Transaction" is a transaction on the date of the currency followed by a full movement of funds from the Customer and the Bank.
"FX Leave Order" is a Transaction made by a Customer with the Bank in the type of Intraday Order and Overnight Order which can be in the form of Single Order, If-Done Order and One Cancel/Other Order.
"FX Non Today " is an FX transaction with Tomorrow (TOM), SPOT and Forward currencies for a maximum of 3 (three) months.
"Forward" is a foreign exchange transaction with completion of transaction on a certain date exceeding 2 (two) Business Days from the date of the transaction.
"TOD" is a foreign exchange transaction with completion of transaction on the same day as the transaction date (T + 0).
"TOM" is a foreign exchange transaction with completion of transaction of 1 (one) Business Day after the transaction date (T + 1).
"Forward Rate" is the exchange rate used during Forward foreign exchange transaction.
"Business Days" shall be Monday to Friday, where the Bank is open for conducting its business activities in the territory of the Republic of Indonesia. In relation to transactions of foreign exchange and bonds denominated in foreign denominations, "Business Days" are days (other than Saturday and Sunday) where a Bank in the territory of the Republic of Indonesia and a bank(s) where a currency is traded carry out its business activities at its relevant jurisdiction.
"Exchange Day" is the day on which the activities at the Indonesia Stock Exchange take place and transactions of securities/bond and Mutual Funds are carried out.
"Proceeds" is the amount of funds returned to the Customer for the placement of the Structured Product which consists of the Minimum Interests and Bonus.
"Instruction" is the instruction given by the Customer to the Bank in writing, oral/face-to-face format, or through electronic media, such as internet banking, ONe Mobile, electronic mail (email) and/or other electronic media for Account operations.
"If Done Order" is an FX Leave Order in the form of a pair of Single Orders buy and sell or sell and buy for the same currency pair and base currency, where the second order will only be active if the first order is executed.
"Intraday Order" is an FX Leave Order that is received from 08:00 WIB to 14:00 WIB and is only valid during the Bank working hours namely from the time the Customer has placed it until 15:00 WIB on the same Business Day.
"Obligations(s)" are all amounts owed by the Customer to the Bank arising from facilities or Products and/or Services provided by the Bank, whether actual, contingent, principal, collateral, individually or jointly.
"Transaction Confirmation" is a written confirmation sent by the Bank to the Customer for every Structured Product and/or other investment products transaction.
"Futures Contract" is a contract that is traded on a futures exchange to buy or sell a reference asset of a financial instrument at a future date with a certain price.
"Service" is banking services provided by the Bank from time to time to the Customer in accordance with the terms and conditions as set out by the Bank.
"Liquidation (liquidation position)" is the process of liquidating a contract of a Foreign Exchange Transaction either partially or wholly by the Bank of the outstanding position of the Customer.
"Foreign Currency" is another currency other than Rupiah.
"Base Currency" is the currency in which the Structured Product is placed.
"Alternative Currency" is the counter currency of a currency pair that is traded in addition to the Base Currency.
"Cash Margin" is cash that must be submitted by the Customer to the Bank as a requirement to guarantee the payment of the purchase and/or product placement transactions made by the Customer at the Bank.
"Mark to Market" is the fair value based on the market price of a financial instrument owned or of the same type to that instrument.
"Maintenance Margin" is the minimum amount of money and in the currency required/determined by the Bank from time to time that must be guaranteed by the Customer so that the contract of sale and purchase of foreign currency transactions at the Bank remains valid and/ or must be maintained by the Customer as long as the Customer makes a Futures Contract as determined by the Bank from time to time.
"Netting" is the process of setting off between profits and losses through a number of transactions with the same type of contract or different types of contracts.
"Overnight Order" is an FX Leave Order that is received from 08.00 WIB until 15.00 WIB and is only valid outside the Bank's business hours, which is from 16:00 WIB on that day until 08:00 WIB on the next Business Day.
"One Cancel / Other Order" is a pair of FX Leave Orders in the form of Instruction orders to Buy or Sell at a limit order and Stop-Loss Order.
"Book Building Period/ Offer Period" is the period of collecting orders for Structured Product transactions or other investment products from the Customer by the Bank.
"Securities Company" is a party that carries out business activities and has a licence from the Financial Services Authority (Otoritas Jasa Keuangan) as an Underwriter (Penjamin Emisi Efek - PEE), Broker-Dealer (Perantara Pedagang Efek - PPE) and or Fund Manager.
"Reserved Margin" is a cash, in the currency and amount determined by the Bank from time to time which is adjusted to market conditions, which are deposited by the Customer to the Bank, in the event of a movement in the price of a Futures Contract from time to time opposite to the Customer’s transaction position, so that the Initial Margin falls below the specified minimum conditions.
"Principal Placement/ Nominal Placement" means the principal amount in the Base Currency of each placement of Structured Product or other investment products made by the Customer through the Bank.
"Observation Period" is a period/ time to determine whether or not a bonus/nominal will be received by the Customer, which starts from the Transaction Date to the Determination Date and Time.
"Products" are banking products offered by the Bank from time to time to the Customer in accordance with the terms and conditions as determined by the Bank.
"Account" is an account(s) owned by the Customer at the Bank, either individually or jointly with other people(s) and includes savings accounts, current accounts, term deposits or other types of accounts opened by the Customer at the Bank from time of to time.
"Recapitulation of Order Placement Results" is a document sent by the Bank which summarizes the results of the FX Leave Order placement by the Customer sent on the relevant Business Day or the next Business Day when the order results are known.
"Set Off" is the Bank's action to repay in full/ reduce the amount of Customer's obligations to the Bank (a) by using the Cash Margin that the Customer has provided to the Bank and (b) block and debit the Customer's account at the Bank, if the Customer cannot fulfill its obligations, without requesting prior consent of the Customer.
"Spread" is the difference between the rate of the Customer Order Rate and the Bank Order Rate which becomes the bank's margin or profit from placing the FX Leave Order by the Customer if the order is executed.
"Structured Product" is a product which is a combination of two financial instruments in the form of non-derivative and derivatives or derivatives with derivatives financial instruments, where the rate of return depends on the performance of some underlying financial instruments, such as equity, interest rates, exchange rates, or a combination of them.
"Stop-Loss Order" is a buy or sell order to limit the level of loss due to market movements.
"SPOT" is a foreign exchange transaction with the transaction completion of 2 (two) Business Days after the transaction date (T + 2).
"SPOT Rate" is the exchange rate used at the SPOT foreign exchange transaction.
"Swap" is an exchange transaction of two different currencies and two exchange rates for two different settlement dates that is carried out simultaneously.
"Single Order" is an FX Leave Order in the form of an Instruction for placement of a buy or sell order only.
"Strike Price (Strike Rate)" is the target price (exchange rate) at which the buyer of option will execute towards the seller.
"Transaction Date" is the date of placement request of a Structured Product or other investment products by the Customer.
"Placement Date" is the date of placement of the Structured Product or other investment products.
"Determination Date and Time" is the date and time that the Observation Period has ended, which is the Maturity Date and Time of an Option Transaction.
"Maturity Date" is the expiration date of an agreement/ contract of a Structured Product or other investment products’ transactions between the Customer and the Bank.
"Placement Date" is the date of placement of the Structured Product or other investment products.
"Determination Date and Time" is the date and time that the Observation Period has ended, which is the Maturity Date and Time of an Option Transaction.
"Maturity Date" is the expiration date of an agreement/ contract of a Structured Product or other investment products’ transactions between the Customer and the Bank.
Unless otherwise specified in context:
For the purposes of opening an account at the Bank, the Customer must (i) complete the form or application for account opening either electronically or non-electronically; (ii) present and provide all data, information and statements necessary and required by the Bank; and (iii) warrants that all information, data, documents, explanation, representations, warranties, authority, authorization and/or instructions provided and/or uploaded digitally/electronically by the Customer to the Bank are true, complete, current data, valid and in accordance with prevailing laws and regulations.
The Customer agrees that the Bank has the right to request additional information and documents and conduct additional verification through other electronic means such as telephone or SMS or email if the Bank considers the suitability and completeness of information or documents including digital/electronic information and documents uploaded by the Customer to be insufficient for the Bank in the application process submitted by the Customer.
The Customer expresses his/her understanding and agrees that the Bank has the right to refuse the application for opening an account in the event there is an incorrect, incompleteness or ambiguity of information, data, explanation, statement, guarantee, authority, authorization, instructions and/or documents submitted and/or uploaded by the Customer, and the Customer agrees that all data and documents including the beneficial owner data that has been provided by the Customer to the Bank will be fully owned by the Bank. Furthermore, the Customer hereby fully approve the Bank to use, manage, store, utilize and take other actions required by the Bank for such information and/or documents and/or personal data including Biometric Data that have been received by the Bank or uploaded digitally/ electronically by the Customer in connection with the account opening at the Bank, to the extent possible and permitted by applicable laws and regulations.
The Customer states that he/she understands and agrees that for the purposes of opening an Account, either through the Bank's office or other channels owned by the Bank, the Bank and its officers may at any time disclose any or all information and special matters relating to the Customer to a party that binds themselves in an agreement with the Bank including agents, service providers and third parties appointed or related, either directly or indirectly.
except stipulated otherwise by the laws and regulations, the Customer agrees that the Bank can reject or cancel the application of Account opening, Products and/or Services submitted by the Customer/prospective Customer by delivering the reason for the rejection or cancellation to the Customer/prospective Customer.
Instructions in connection with an Account must be given by or on behalf of the Customer in accordance with the authority and mandate currently in force for the Account. Instructions can be made in writing or electronically or in the form and/or other methods approved by the Bank from time to time.
Instructions received by the Bank cannot be canceled, withdrawn or changed unless the Bank approves them in writing or electronically or in other forms and/or methods.
Customer’s specimen of signatures and authority to sign or authorised signatory to carry out banking transactions with the Bank which has been provided in writing shall remain effective until the Bank receives a written cancellation from the Customer.
The Customer agrees that the Bank has the right but not the obligation to carry out further verification of the signature other than comparing it with the signature’s specimen available at the Bank. The Customer agrees that the Bank has the right to refuse a cheque/giro cheque or other instructions if the signature of the Customer or the authorised person of the Customer, in the opinion of the Bank, is different from the signature specimen available at the Bank.
The Customer agrees that any approval by using OTP sent to the Customer via SMS to the Bank is a form of legal and binding instruction and approval provided by the Customer to the Bank and can be used fully as evidence as referred to in applicable laws and regulations.
The Customer agrees that the Customer is fully responsible for all Instructions made by using OTP data processed by the Bank, and the Customer agrees to release the Bank from all types of claims, lawsuits and/or other legal actions from any party in relation to the implementation of the Instruction.
The Bank shall provide its best effort to carry out the Customer’s Instruction, however the bank shall not be liable for any failure of its implementation, except which is caused by the Bank’s negligence or real mistake.
The Bank shall not be liable for any losses suffered by the Customer arising from or related to:
If the Customer wishes to cancel or stop the payment of a cheque/giro cheque (bilyet giro) that has been issued by the Customer, the Customer must send to the Bank a complete written Instruction and information regarding the cheque/giro cheque (bilyet giro), including:
After receiving the written Instruction, the Customer must fill in other documentation required by the Bank. The Instruction to stop the payment will be carried out by the Bank based on the Bank's best efforts and the Bank at its sole discretion and/or based on the Bank Indonesia regulations, may choose not to carry out the written Instruction for any reason whatsoever.
If the payment termination instruction as referred to above is carried out by the Bank, the Customer agrees to bear and at any time compensate the Bank for all costs, losses or liabilities incurred or suffered by the Bank as a result of the non-payment of the Cheque/Giro Cheque (Bilyet Giro).
The Bank will send an Account Report which informs each transaction and/or details of the Customer's Account activities every month or at such intervals as deemed good by the Bank to the Customer's address as registered at the Bank. In addition, the Bank will send Transaction Confirmation, Confirmation of Transaction Result, Recapitulation of Customer Order Placement Result (as relevant) of a transaction and/or Customer’s placement of certain products at the Bank, to the electronic mailing address, facsimile number or Customer's address that is registered at the Bank or other address which has been notified in writing by the Customer to the Bank.
The Customer or his/her proxy or agent must read and verify all contents contained in the Account Statement and/or Transaction Confirmation received by the Customer. The Customer or his/her proxy or agent shall within 30 (thirty) calendar days from the date of the issue of the Account Statement and/or Transaction Confirmation, to report to the Bank for any discrepancies, inadequacies, errors and/or illegal transactions. if during that period the Bank does not received any notification whatsoever, then the Customer declares that any information, data and details of the transaction contained in the Account Statement and/or Transaction Confirmation is valid and is fully binding on the Customer.
The Customer agrees that without prior notification to the Customer, the Bank may add, change and/or improve the matters contained in the Account Statement and/or Transaction Confirmation to correct the errors listed in the Account Statement and/or the Transaction Confirmation (as relevant) (if any).
The Customer acknowledges that in connection with the market value of each investment in the financial instrument contained in the Account Statement:
The Customer agrees that:
Provisions regarding the interest offered by the Bank to the Customer may change according to banking market conditions and the Bank's internal policy. These changes can be viewed through the Bank's office or electronic media owned by the Bank.
Interest income received by the Customer will be subject to tax in the amount in accordance with applicable taxation laws and regulations.
The Bank has the right to debit the Account for the fees or fees mentioned on each list of Bank fees or other fees and charges, interest, taxes and penalties (including but not limited to legal fees and stamp duty (if any)) that must be paid by the Customer to the Bank in connection with:
Fees in an amount as stated on the list of the Bank fees will be charged if the Customer fails to maintain the minimum balance required for the Account(s) or if the Account(s) is inactive for a certain period of time as determined by the Bank from time to time. Fees with an amount as stated on the list of the Bank fees may also be deducted if the Customer closes the Account(s) within a period as determined by the Bank from time to time.
The Bank, with notification to the Customer, can change the prevailing exchange rate and/or the amount of fees or costs that must be paid by the Customer as stated on the list of Bank fees. The changes shall take effect from the date stated on the notification, which is no less than 30 days from the date of the notification.
The customer hereby declares and agrees to give permission and authority to the Bank and its officers to at any time disclose any or all information and specific matters relating to the Customer including personal data and/or Customer Biometric Data to:
The Bank will use the prudential principle as appropriate in accordance with prevailing laws and regulations to ensure that information about the Customer, including not limited to accounts, transactions and authorised persons of the Customer is treated as confidential.
The Customer shall immediately notify and convey to the Bank any changes to any information or data of the Customer, including but not limited to changes of name, address, telephone number, information or data contained in the Identification Card (KTP) and/or Tax Identification Number (NPWP), information related to the occupation/business of the Customer and other things that deviate or different from the information or data previously provided by the Customer to the Bank, whether such information or data being delivered directly physically or through electronic media.
In the event of any change in data or information of the Customer, the Customer hereby authorises the Bank and/or a party appointed by the Bank to perform updates or adjustments to any information or data of the Customer contained in the Bank system.
At the Bank's discretion, the Bank has the right to change the status of an Account from an active Account to dormant account if there is no banking transaction activity carried out by the Customer within a period of 375 (three hundred seventy five) consecutive calendar days.
As long as the Account is dormant, the Customer cannot carry out any debiting or crediting transaction, with the exception of the transactions related to the following charges can still be executed: (a) debiting the administrative costs of the Account, including administrative costs for the dormant Account (b) payment of interests; (c) payment of tax on interests; (d) stamp duty fees on cheque accounts; (e) account debiting through clearing or document disbursement conducted by a third party (the party receiving payment from the Customer) for the Rupiah Giro Account; (f) deduction of Safe Deposit Box (SDB) lease fees; and (g) deduction in relation to every liability of the Customer that is still owed to or through the Bank.
On the dormant Account, the Bank reserves the right to impose an administrative fee which will be charged to the Account in the amount as determined in accordance with the prevailing policy at the Bank with prior notice through the Bank's office, the Bank's website at www.ocbcnisp.com or other media determined by the Bank, subject to the applicable laws and regulations.
To reactivate a dormant account, the Customer must come to the nearest Bank branch to complete and sign the Account activation form before the Bank officer or through another mechanism as approved by the Bank. Specifically for Customers who have a Joint Account “And”, the activation of the Account must be done jointly by the Joint Account holders, while for the Joint Account "Or" the activation of the account can be done by one of the Joint Account holders.
Once the dormant Account is activated, the Customer is required to make a transaction using the account.
The Customer agrees that in the event that the Customer's dormant Account has a zero balance (Rp0), then by notification, the Bank has the right to close the Account.
Except with the prior written approval of the Bank and in accordance with the terms and conditions stipulated by the Bank, the Customer shall not assign or encumber as collateral for the benefit of another party or carry out any other actions relating to it in connection with the Account either in part or entirely.
The Customer promises to ensure that there is no overdraft in the Account, even if it is temporary, except if the Bank permits or with prior approval from the Bank and the approval is subject to the terms and conditions as determined by the Bank.
The debit balance in the Account must be settled immediately by the Customer. The Customer at the request of the Bank must pay all interests and fees on the debit balance which will be calculated at the interest rate as determined by the Bank from time to time and the interest is calculated daily and charged at the end of every month or at a time as determined by the Bank from time to time.
If the Bank is required by Law, provisions in Indonesia or the laws and regulations in which applied to the Bank based on an agreement to withhold tax, the Customer hereby authorises the Bank to make the deduction from the relevant Account(s).
The Customer agrees that if the tax must be paid in a currency that is different from the currency of the Account, the Bank is given the authority to convert the required currency using the prevailing exchange rate at the Bank and the conversion fee is borne by the Customer.
The Customer agrees that the Bank has the right to refuse or not perform the Instruction if (i) the Instruction is not in accordance with the applicable laws, regulations or legislation, including laws concerning financial crimes, the Law on the Eradication of Criminal Acts of Corruption, the Law on Money Laundering prevailing in Indonesia and internationally and compliance with the prevention of financing of among others, terrorists and parties affected by sanctions; or (ii) the Instruction will cause the amount of payment to exceed the credit balance of the Account, or the Bank based on its consideration concluded that the Instruction of the Customer cannot be verified.
As necessary, in connection with the provisions of this Article, the Bank has the right (i) to request to provide all information requested by the Bank to comply with the laws and regulations, including but not limited to name, address, age, gender, personal identification information, income, occupation, assets, debts, source of assets, purpose of opening an Account, investment objectives, all financial plans or other relevant financial information from the Customer; (ii) request the Customer to provide the latest data of the information to the Bank; (iii) intercept and investigate all payment orders and other information or communication sent to or by the Customer, or on behalf of the Customer through the Bank system; and (iv) if necessary, related to the potential terrorist financing, the Bank conducts further investigations to determine whether the names that appear in all transactions carried out or will be carried out by the Customer through the Account are names of the terrorists.
The Customer agrees and acknowledges that to the extent permitted by the applicable laws and regulations:
if there are doubts, nonconformities of Instruction, errors of OTP code, dispute of the Customer with other parties which causes conflicting of Instruction, or suspicion of criminal offense indication including but not limited to falsification, fraud, invalidity or irregularity of the Instruction/transaction of the Account or as a follow-up of a report of an suspected criminal action, in relation to invalidity or irregularity of the Instruction/ transaction of the Account or as a follow-up of a report of an suspected criminal action, in relation to an incorrect data/ information provided by the Customer to the Bank.
The Customer agrees that the Bank reserves the right:
The Bank shall not be liable for any loss (whether directly and including loss of profits or interests) or any loss suffered by any party arising from any action taken by the Bank pursuant to this Article 16.
The Customer provides the Bank the full right, power and authority to, at any time, block/ withdraw and/or debit the Customer's Account or the Joint Account of the Customer in all branches of the Bank to repay/pay all obligations or debts of the Customer owed and payable currently available and in the future. The Customer hereby waive all of rights to file objections or resistance in any form and for any reason whatsoever of the blocking, withdrawal and debiting by the Bank.
The Customer and the Bank hereby waive and declares that the provisions of Article 1427 of the Indonesian Civil Code is not applicable, as long as the article requires that to be able to compensate/calculate a debt, a receivable should have been due and payable.
The Bank will notify the Customer of any such blocking or debiting as referred to in Article 17.1 above.
Neither the Bank nor its employees or agents shall be liable for any action or failure to act unless the failure is intentionally or caused by negligence.
Without limiting the foregoing, the Bank shall not be liable for any costs, losses, damages, liabilities or consequences suffered or incurred by the Customer because:
The Bank shall not be liable for any loss, damage or expense suffered or incurred by the Customer (whether due to a signature fraud, material changes to the withdrawal instruction or any reason whatsoever) not caused by the fault of the Bank. If upon request of withdrawal or payment, the Bank has debited the Customer’s Account but it was based on a forged signature of the Customer or the authorized person, the Bank shall not be liable to cancel the debit or pay damages to the Customer in respect of the debited funds.
The Customer is required to know the risks of an exchange rate attached to deposits in foreign currencies, especially the decrease in the exchange rate of foreign currencies compared to the Customer preferred currency will reduce (or negate) the earning or income of the Customer in the foreign currency deposits.
The Customer agrees that the Bank is not responsible, unless such matters may be evidenced as a result of the Bank's negligence or misconduct, for: (i) misunderstandings, damage, delays, loss or error in the delivery of orders and communications, either by post, telephone, telegram, telex or facsimile or other communication media; (ii) limitation of use or the unavailability or non-payable of funds due to restrictions on foreign currency exchanges, unavailability of foreign currency withdrawn, or other causes beyond the Bank's power; (iii) Account statements or the Bank notices sent to the Customer are accepted or read or misused by unauthorised parties to the Account, (iv) tokens and PIN are known by other persons/parties; (v) the changing hands of OCBC NISP ATM card to other persons/parties; (vi) losses or claims arising from or relating to the handover of goods transaction made by the Customer at a merchant; (vii) illegitimacy, invalidity, incomplete filing or other aspects of the documents received by the Bank from the Customer, as well as if the document proves the ownership rights to the goods contained in the document. The Bank shall not be liable for the person issuing or endorsing of such documents, including but not limited to the authenticity, validity or correctness of the authority and signature contained in such documents.
If the Customer is an individual Customer, the Bank only recognizes the beneficiary in the event that the Customer dies. After receiving the notice of death of the Customer, to protect the interest of the Customer, the Bank is entitled to freeze the account until the beneficiary provides and complete the documents as required by the Bank in accordance with the provisions applicable to the bank. Notwithstanding the foregoing, the Customer agrees that the Bank reserves the right to require proof of beneficiary in the form of documents acceptable to the Bank and other evidence required by the Bank, so that the Bank would know the rightful beneficiary in accordance with the applicable laws and regulations.
If the Account(s) is opened on behalf of two or more persons ("Joint Account"), those persons jointly and/or individually responsible for the obligations arising from the Joint Account, and each of the word "Customer" in this Terms and Conditions or any other document relating to the Joint Account shall be interpreted/read as the Customer of the Joint Account holder, either jointly or individually with the provisions that:
In the event that an Account is opened on behalf of a company, the Bank permits changes to the authorised signatory but the Bank is not obliged to accept such changes unless the Bank believes that the change has been supplemented with documentation required by the Bank to make such changes. In the event of a liquidation of a company, the funds credited to the account shall only be withdrawn and payable to the liquidator of the company or the curator or other authorised person or appointed body in accordance with the applicable laws and regulations.
The Customer agrees that the Bank reserves the right to (i) refuse to accept term deposit or limit the amount that can be deposited and return all or part of the amounts sent by the Customer to the Bank for the deposit, and (ii) refuse deposits in Foreign Currency.
Each term deposit placed by the Customer will be made in such a way and the Customer must comply with the terms and conditions and procedures prescribed by the Bank from time to time in relation to the Term Deposit. Proof of a term deposit will be validated in accordance with the applicable provisions and procedures by the officer of the Bank.
Term Deposit placed with funds derived from a cheque/giro cheque (Bilyet Giro), can only be placed in the term deposit after the funds have been received by the Bank.
All cheques/giro cheques that are credited will be accepted by the Bank as an agent for collection, and the Bank can send the cheque/giro cheque for collection to the issuing party, withdrawing party or other payers to be managed in accordance with their own rules. Cheque/giro cheque in foreign currency as well as postal and money orders received for collections will be credited only after the payment is received by the Bank.
Every remittance either by post, telegraph or electronic or negotiable instrument received to be credited is irrevocable until the funds have been received by the Bank. If the remittance is cancelled for any reason, the Customer's Account will be debited immediately, and the Bank will withdraw the interests that have been calculated or credited in relation to it.
The Customer agrees that the Bank may refuse to accept the cheque/giro cheque and other instruments withdrawn on a third party. If it is accepted by the Bank, the acceptance is without liability to the Bank and the Customer is solely responsible for the correctness and validity of all endorsements. Cheque/giro cheque or other instruments with some endorsements are not accepted by the Bank unless it has been regulated by the Bank.
All cheques, promissory notes, drafts and other payment instructions (hereinafter referred to as the "items") received by the Bank to be credited to the account are subject to the following terms and conditions:
Withdrawal in cash for any amount placed in the foreign currency Account shall depend on the availability of the foreign currency cash funds at the Bank. Payment of the amount withdrawn, unless approved by the Bank, will be made in the form of telegraphic transfer by the Bank.
Withdrawal of funds of the Customer will be done in such a way and the Customer shall comply with the procedure regulated by the Bank from time to time. Withdrawal of funds can be made after the Bank receives a withdrawal instruction which can be received by the Bank including presenting identity card or passport by the Customer or the authorised signatory. Unless with the prior written consent of the Bank the withdrawal of funds can only be done in writing and signed in accordance with the signature specimen and authority received by the Bank. Arrangements made with the Bank for instruction of withdrawal of funds other than in writing shall only be carried out at the risk of the Customer and the Bank shall not be liable for any loss, damage or liability arising or suffered by the Customer in respect of such arrangement.
A Cheque/giro cheque is provided only to be used with a cheque account (or other accounts determined by the Bank from time to time). Cheque/giro cheque cannot be used to withdraw funds from other types of accounts. The Customer must ensure sufficient funds are available for each Cheque/giro cheque issued on the Account.
A Cheque/giro cheque will be delivered to Customer at the risk and expense of the Customer or by other means requested by the Customer and approved by the Bank according to Bank policy.
A Cheque/giro cheque withdrawn on the Bank must be on the Bank’s form of cheque/giro cheque issued by the Bank for the account. The Cheque/giro cheque must be withdrawn based on the specific currency of the account. The Cheque/giro cheque must be fully completed to prevent additions or amendments after its issue. All amendments and/or additions must be confirmed with the full signatures of the signatories and these signatures shall constitute an absolute evidence of such amendments and/or additions.
The Cheque/giro cheque must be signed in accordance with the signature specimen provided by the Customer to the Bank. The Cheque/giro cheque may be rejected by the Bank if it is inconsistent, and the Bank may refuse to pay the funds for a cheque with the word "bearer" which has been cancelled, without any obligation to the Bank. The Bank is not responsible for the identity of the signatory at the back of the cheque drawn by the bearer and reserves the right to refuse to pay such cheque. The Customer is solely responsible for the correctness and validity of all endorsements listed on the cheque withdrawn from the account.
A Cheque/giro cheque which is deposited by the Customer but rejected by the issuing bank, if within 1 (one) year since the rejection, the cheque/ giro cheque is not being collected by the Customer, the Customer agrees that the Bank is entitled to destroy such cheque/giro cheque.
The Customer is solely responsible for keeping the cheque/ giro cheque and if the cheque/giro cheque cannot be found, lost or stolen, the Customer shall promptly notify the Bank in writing or if the notice is provided verbally, it must be followed by a written notice, accompanied by a police report of the loss. The Police reports which is received after 13.00 shall only apply on the next Business Day.
On the closure of the account, either by the Customer or by the Bank, all forms of the cheque/giro cheque that has been provided to the Customer and unused are fully owned by the Bank and the Customer shall return them to the bank.
Non-sufficient amount in the check/giro cheque,
The Customer understands and agrees that the Customer will use the account for transactions which do not contradict with provisions of the laws and regulations and/or the prevailing internal Bank regulations and/or policies and/or other regulations which either apply nationally or internationally in relation to the carrying out of the transactions either directly or indirectly, and the Bank shall not indemnify and/or hold any form of liabilities to the Customer or any other party for any claims and/or lawsuits and/or losses arising in connection with the use of the Account by the Customer for transactions that are categorised as suspicious transactions and/or transactions prohibited by laws and regulations and/or the prevailing internal policies of the Bank and/or other regulations which either apply nationally or internationally in relation to the activities of the transactions conducted by the Customer either directly or indirectly.
In conducting a transaction by using the Account, the Customer understands and agrees that there are certain sanctions imposed by the government, including the government of the United States of America and other countries, and/or other competent authorities against some countries, entities and individuals. By referring to this matter, the Bank reserves the right not to execute/process a transaction which constitute a breach of such sanctions, and the competent authorities may require disclosure of the relevant information. The Bank shall not be liable if the Bank or the other party fails or suspends the execution of the transaction, or disclosure of information as a result of a direct or indirect violation of such sanctions.
In the event that the Customer is a limited liability company and or any other legal entity, the Customer is obliged to adjust its Articles of Association in accordance with the prevailing laws and regulations applicable to the Customer, including but not limited to the provisions of the latest Company Law, including its implementing regulations and/or its amendments(if any).
The Customer agrees to follow and comply with the policies as set forth by the Bank and the prevailing laws and regulations of the financial services sector including to carry out updates of the Customer data at the Bank at any time as requested by the Bank.
If there is a currency which is not available for the Bank to fulfill its obligation to make payment due to the conversion restrictions, delivery, takeover, actions, orders, provisions and governmental regulations, voluntary delivery, expropriation, implementation of army power or coup, action of war, civil disputes, monetary or currency or other similar causes outside the Bank's power, the Bank is deemed to have fulfilled the payment obligation by making the payment in another currency (at the prevailing exchange rate of the Bank) as it deems satisfactory.
In order to carry out the prudential principle, the Bank has the right and the Customer authorises the Bank to block either part or all of the balances in the Account (hold amount) and/or debit the Account, if:
The Bank shall at any time required to correct mistakes/ errors made by the Bank, either due to confusion of the employee or due to disruption/error of the Bank's system or, due to a mistake from the originating bank of the sender and such bank requested a refund, either by crediting or debiting the Account or in carrying out any instructions related to it. In the event of a mistake and/or error made by the Bank and/or the originating bank of the sender, then the Customer hereby stated (i) to provide the Bank an approval and authorisation to debit the Account, in the event that the Bank must make such debit to correct the mistake/error; (ii) shall not demand or seek damages to the Bank or its employees for any errors which shall be fixed by the Bank within a reasonable period of time after the Bank becomes aware of the error.
If the Customer wants to close the Account(s), the Customer shall give a written Instruction to the Bank and fulfill the procedures as determined by the Bank.
On the closing of the Account:
Without prejudice to the general provisions above, in the occurrence of any of the following events, the Customer agrees that the Bank has the right, with notice, to close the account(s):
Based on the Financial Services Authority (Otoritas Jasa Keuangan) regulations concerning the Implementation of Anti-Money Laundering Program and the Prevention of Terrorism Financing in the Financial Services Sector, the Bank shall reject the transaction, cancel the transaction and/or close the business relationship with the Customer, if:
Therefore, the Customer releases the Bank from any lawsuits that occur in any form either directly or indirectly related to the implementation of the Bank's authority as mentioned above.
The Customer must (a) maintain the security of passwords, links or OTP from any parties and for any purposes including from family members, friends, employees of the Bank and/or merchants; (b) Not to write down passwords, links or OTP in places that makes it possible for others to know; (c) every links or OTP must be used carefully in order not to be seen by others.
The OTP sent by the Bank can only be used for 1 (one) time during the session of the transaction/Instruction. Once the OTP has been used or the session expires, the OTP that was previously submitted cannot be reused. If the Customer is about to repeat the transaction/ Instruction mentioned, the Customer must enter a new OTP.
The Customer hereby agrees that the bookkeeping, records/documents, tape/cartridge of electronic data, recording of communications, record of transactions evidence, sound recordings, CCTV recordings, computer print outs, copies or other forms of information storage or other data relating to the Account, funds or Account transactions as determined by the Bank is the perfect, legitimate and binding to the Customer even if such documents are not followed by the original document and/or are not signed by a wet signature/electronic signature of the Customer and/or the Bank. If necessary, the Bank will send a report on each account to the Customer using the means/media which to be determined in accordance with the Bank’s prevailing policy. In the event of a mistake/error of record/bookkeeping by the Bank, the Bank reserves the right, in good faith, to at any time correct the errors made on the books and records of the Bank with respect to the Account statement, without obligation to obtain approval from the Customer and/or inform the Customer in advance.
The Customer hereby declares and agrees that the Bank's records and books as a result or as a consequence arising from the Bank's actions in correcting the mistake of the Account as referred to in Article 30.1 above shall apply and bind the Customer as a valid, absolute and perfect evidence.
Specifically for the application, transaction and/or Instruction submitted by the Customer via email, facsimile, telephone and/or other electronic means acceptable to the Bank ("Electronic Means") and by referring to the prevailing regulations of the Bank, the Customer fully agrees that each application, transaction and/or Instruction submitted by the Customer through Electronic Means (i) is valid and binding and apply as a valid and perfect and legally enforceable evidence even though it is not followed by delivery of the original document and/or is not signed by a wet signature/electronic signature of the Customer and/or the Bank, unless for applications, transactions and/or Instructions that based on the prevailing laws must be submitted in the form of an original document and/or wet signature. The Customer agrees to waive Article 1888 of the Indonesian Civil Code, and (ii) proof of each transaction of the Account can be seen through the list of transactions of the Account associated with the transaction at the Bank, written documents or in electronic form such as email, facsimile and/or voice recording and other documents issued and/or used by the Bank in connection with the transaction of the Account via email, facsimile and/or telephone and or other electronic media.
The Customer agrees that the Bank may record any and all electronic communications such as through telephone, email or other instrument between the Bank and the Customer in relation to the Products and/or Services of the Bank. The Customer agrees and authorises the recording and monitoring of such electronic communications. The Customer acknowledges and agrees that for any Customer Instruction submitted through electronic means as set out in these Terms and Conditions, the Bank is entitled but not obliged to verify and identify the Customer prior to the Instruction of the Customer.
The Customer authorises, guarantees and accepts full responsibility for every Instruction submitted by electronic means provided by the Customer to the Bank or accepted by the Bank, whether such Instruction is provided by the Customer or the person deemed authorised by the Customer.
The Customer understands, acknowledges and accepts all transactions and all consequences arising from each instruction and communication made in the manner described above, and therefore, the Customer releases the Bank from any and all losses, claims, actions, processes, demands, requests, costs and expenses in any form whatsoever and at any time incurred or incurred in any form and way, arising out of and/or as a result of the instruction and communication that the Customer has submitted to the Bank as long as the Bank has conducted the process of transaction in accordance with the manner as agreed above.
If the Services or Products are provided to the Customer by the Bank under separate terms and conditions, then such terms and conditions shall become an inseparable part of these Terms and Conditions. In the event of discrepancies on the interpretation, the provisions of these Terms and Conditions shall prevail.
The Bank's branches in other jurisdictions, its subsidiaries or affiliates (if any) are not responsible to the Customer in respect of the Bank's obligations and/or obligations in accordance with these Terms and Conditions.
For communication or correspondence purposes, the Customer may contact Tanya OCBC NISP or other number as informed by the Bank from time to time. In the event of any change of address/e-mail address/ telephone number/ cell phone of the Customer without any prior notice from the Customer, the Bank shall not be liable if the communication sent by the Bank is not received by the Customer for the reasons above. Therefore, if there is a change in data, the Customer shall notify and inform the change to the Bank and the change is only valid if it has been accepted and/or approved by the Bank.
Every report, advice, confirmation, notice, announcement, request and all correspondences by the Bank in accordance with these Terms and Conditions ("correspondence") will be sent to the Customer:
The Bank shall not be liable for any misunderstanding, delays, or error of transmission of any instruction or communication as a result of the use of postal, facsimile, electronic mail (email), telephone, or telex or any other means or communication between the Customer and the Bank and between the Bank and the Customer, except as caused by the real fault of the Bank.
At any time based on its discretion and by notification to the Customer in no later than 30 (thirty) Business Days, in the manner as referred to below, the Bank may (i) change one or more of these Terms and Conditions or (ii) terminate permanently the provisions of a type of Account as set out in these Terms and Conditions by:
If the Customer continues to use the account(s) after the notification, then the Customer is deemed to have agreed and accept the changes.
For the purpose of termination of Account in accordance with these Terms and Conditions, the Bank and the Customer hereby waive the provisions of Article 1266 of the Indonesian Civil Code.
The Customer agrees that the Bank is released from any liability as a result of Force Majeure events.
The Customer/prospective Customer agrees that in the event the Customer/prospective Customer is a tax subject based on the Foreign Account Tax Compliance Act ("FATCA Subject"), Common Reporting Standard ("CRS Subject") and Regulations regarding the Reporting of Foreign Customer Information In Relation to Taxation to the Partner Country or Partner Jurisdiction, then the Customer/prospective Customer shall complete every document and/or form required by the Bank in relation to the taxation obligation of the Customer other than in Indonesia and warrant the correctness of any information provided in the document and/or form. If the status of the Customer is changed to the FATCA Subject and/or CRS, then the Customer must at no later than 30 (thirty) calendar days after such change of status to notify the Bank in writing.
The Customer/prospective Customer acknowledges and agrees that the information of the Customer/ prospective Customer shall be forwarded to the authority either The Financial Services Authority (Otoritas Jasa Keuangan-OJK) or the tax authority in Indonesia.
The Customer/prospective Customer acknowledges and agrees that the Bank reserves the right to refuse a business relationship and/or reject a new transaction related to the financial account if the Customer/prospective Customer is not willing to fulfill the identification procedures prevailing at the Bank related to the CRS.
In the event that any provision of this Terms and Conditions becomes invalid, illegal or unenforceable under the provisions of the prevailing laws and regulations (including and not limited to the provisions of the Financial Services Authority (Otoritas Jasa Keuangan-OJK), Bank Indonesia and others), then (i) the validity, legality and enforceability of the remaining provisions in these Terms and Conditions shall not, in any way, be affected, diminished or disrupted, it shall remain valid and binding to the Parties and (ii) the Customer hereby agrees that the Bank reserves the right to adjust the invalid/illegal and unenforceable provisions with the prevailing laws and regulations and/or government policies so that they can be fulfilled by the Parties.
These Terms and Conditions are subject to and shall be construed in all respects in accordance with the laws of the Republic of Indonesia, however, in enforcing these Terms and Conditions the Bank is free to initiate or take any action or lawsuit or others against the Customer at the South Jakarta District Court in Indonesia without limiting the rights of the Bank to submit a lawsuit in other courts and jurisdictions.
All authorisations that are provided by the Customer to the Bank are in accordance with these Terms and Conditions:
The Customer authorises the Bank to disclose every information obtained by the Bank in regards to the Customer, business activities of the Customer, the accounts and/or the business relationships/transactions of the Customer with the Bank, including but not limited to the details of facilities and transactions conducted by the Customer with the Bank, in its capacity as bankers of the Customer or in its other capacity for operational purpose and/or fulfillment of certain regulatory requirements, to (i) the head office and other branch offices of the Bank and other parties related to the Bank, (ii) the agents of the Bank/its correspondences, (iii) guarantors, (iv) lawyers, (v) professional consultants and the Bank's service providers who are bound by the confidentiality obligations with the Bank.
The granting of the authorisation in these Terms and Conditions constitutes an important and inseparable part to these Terms and Conditions. The Customer agrees that the power provided by the Customer in these Terms and Conditions shall not be cancelled or terminated during the business relationship between the Customer and the Bank or for any reason whatsoever, including but not limited to the statements in Articles 1813, 1814 and 1816 of the Indonesian Civil Code.
In order to provide its services, the Bank (or its agents) if necessary (but not required) records every verbal instruction received from the Customer or the proxy or agents of the Customer and/or the verbal communication between the Customer and the Bank (or its agent) in connection with the services.
The Customer hereby provides the Bank with approval and authority to use and/or utilise any data, information and description related to the Customer, which is acquired and/or owned by the Bank, including data and transaction information, status of the collectibility (if any) and the Customer's personal means of communication, for all purposes provided that it is possible and permitted by the prevailing laws and regulations, including authorises the Bank to send notices, information, offers or marketing of products and/or services of the Bank or other third party products and/or services in cooperation with the Bank or other things that have similar objectives and purposes to the Customer's personal means and use the data contained in the Financial Information Service System (Sistem Layanan Informasi Keuangan / SLIK) and/or other service systems that have similar purposes and objectives as stipulated by the applicable regulations for the purpose and/or in the context of offering other products/services (cross selling).
On the use of data, information and descriptions of the third parties which the Customer has provided to the Bank, the Customer states that the Customer has obtained the consent of any third party for the use of such data, information and description, and therefore, the Bank is released from any claim, demand, lawsuit and/or responsibility in any form either from the Customer or any third party arising in the future in connection with the use of data, information and description which has obtained such written approval by the Bank.
Rules of Leasing and Using the SDB.
The Customer agrees and warrants the followings:
To carry out a purchase or placement Instruction of the Customer on certain Products at the bank, the Customer must have an account in the Bank with the same currency as the Base Currency on the purchase or placement of the relevant Product and a Securities Account at the Custodian Bank for the purposes of placing the relevant Product, where all the obtained proceeds and/or payable by the Customer shall be debited/ credited from those Accounts.
The Authority to Provide Documents, Data and Information
The Customer hereby authorises the Bank to provide all documents, data, information and other details relating to the Customer, Account, RDN and Customer's financial (as relevant) to KSEI, the Financial Services Authority (Otoritas Jasa Keuangan-OJK) and other competent authorities based on the provisions of the prevailing of the laws and regulations.
The Customer agrees that foreign exchange transactions, derivatives, futures contract and Structured Products performed by the Customer in the Bank are intended to manage the loans or investments, as hedging against the assets or liabilities in connection with their business activities or for those purposes and not for the purpose of speculation.
The Customer hereby understands and fully acceptS and has sufficient knowledge and understanding of the characteristics, types, investment policies, portfolio composition, associated costs, and risks including market risks (risks which can cause losses due to market factors) caused by among others, currency risks (the risk of loss caused by factors that change currency values), liquidity risk (the risk of failure to carry out payment of obligations due to the ability of liquidity), interest rate risk (risk of loss caused by changes in interest rates) or other risks arising from the transaction of capital market and treasury products.
The Customer hereby declares to have made consideration and with his/her own decision, independently to perform transactions on capital market and treasury products with the Bank and the Customer has agreed to accept all risks arising in connection with the execution of transactions for the capital market and treasury products.
Every written description and explanation provided by and/or received from the Bank is indicative only. The risks presented in the documents of the capital market and treasury products in the Bank Product and Service Guide Book or the Product Guide Book or any other names as determined by the Bank or other documents that have the same purpose are not the only risks, and the results projected on such documents are solely for illustration purpose only and cannot be regarded as the Bank’s view on the market movements of such products at a later date. The Customer shall consult with a tax consultant, financial advisor and other relevant professional advisors before deciding to make a placement and purchase of each of the capital market and treasury products.
In connection with transactions and services of the Product of the Bank, the Customer warrants:
Each of the representations and warranties as set forth in this Article shall continue in full force and effect as long as the Terms and Conditions are valid and as long as the Customer carries out the purchase of the Product and/or uses the Services of the Bank.
Proxy to Securities Company or Custodian Bank
The Customer hereby gives power and authorisation the Securities Company or the Custodian Bank for and on behalf of the Customer to do the following:
The Customer agrees to release the Bank from any claim, lawsuit, demand, risk, compensation and/or other legal action that may arise as a result of abuse of power by the Securities Company or the Custodian Bank in relation to the funds in the RDN, and agrees to bear all losses incurred by the Bank due to such abuse of power.
The powers provided by the Customer to the Securities Company or the Custodian Bank (as relevant) and the Bank are conducted without compulsion and are irrevocable or cannot be changed by the Customer or shall not expire due to any reason including and not limited to the provisions as referred to in Article 1813, 1814 and 1816 of the Indonesian Civil Code.
The powers provided by the Customer to the Securities Company or Custodian Bank (as relevant) and the Bank in the Terms and Conditions are provided with a right of substitution.
The Bank reserves the right to at any time correct errors in the arrangement/administration of the RDN, either in crediting or debiting the RDN or in carrying out any Instruction relating to it, and the Customer hereby states, agrees and acknowledges:
To carry out a Futures Contract transaction at the Bank the Customer shall (i) place the Initial Margin and Reserved Margin on the account specified by the Customer at the bank, and (ii) pay the costs required for the Futures Contract transaction, namely transaction fees, taxes, commissions and other costs related to the Customer’s Futures Contract transaction at the Bank. .
By observing the provisions of these Terms and Conditions, on Business Days from 08:00 – 15:30 WIB, the Customer may provide instructions to the Bank to carry out a Futures Contract transaction.
Obligation to Maintain Initial Margin and Additional Margin (Call Margin)
The Bank's decision will bind the Customer with the determination of the value of the Customer’s Futures Contract transaction will be determined based on the market condition and the Customer agrees to accept the determination of the Bank.
In connection with this matter, the Bank shall be released from any claims or lawsuits, damages of any kind for any reasons whatsoever.
The Customer agrees that the settlement of the Customer's Futures Contract transaction at the Bank shall be conducted (a) on the Due Date, and (b) settled in the Netting Transaction Settlement.
By considering the above provisions, in the event the Customer up to the Maturity Date at 15:30 WIB does not close the position of the Customer’s Futures Contract transaction, the Customer agrees that the Bank has the right to close the position of the Customer’s Futures Contract transaction by using the prevailing price at 16:00 WIB on the closing day.
The Bank reserves the right to take measures as set out in article 55.6, in the occurrence of one or more of the following events:
In the occurence of circumstance as referred to in article 55.5 above, the Bank reserves the right to cancel or to carry out the following Close Out and Set Off:
The Customer may cancel the Futures Contract transaction order as listed in the Application Request for Futures Contract Order – Good Til Cancel that has not been executed by sending instruction to the Bank at the latest at 16:00 WIB on the relevant Business Day. However, The Customer is not allowed to cancel the Customer's Futures Contract transaction including canceling the Futures Contracts transaction that has been executed by the bank (done) as well as the Customer’s instruction that has been agreed with the Bank in connection with the Futures Contract transaction. In the event of cancellation, the Customer shall pay the cancellation fee as incurred by the Bank and the amount will be notified by the Bank to the Customer.
Beyond Banking means non-financial additional services that will be provided by third parties in cooperation with the bank, which will be informed by the Bank to the Customer from time to time.
Transactions via Banking on the Move
Banking on the Move is a transaction process made through facsimile, telephone or electronic mail (email), including the process of sending documents from the Bank to the Customer/from the Customer to the Bank through the Bank’s officer, provided that:
Autopayment and Automatic Fund Transfer
Depository Management Services ("Trust")
The Customer agrees that the services referred to in Articles 56.1, 56.2 and 56.3 above may be terminated if (a) the Customer does not meet the requirements as referred to in these Banking Services Terms and Conditions or (b) based on the Customer's request. In the event that the services end due to the reasons stated above, the Bank has the right to withdraw all the facilities that have been provided and charge fees based on the applicable regulations.
The Customer knows and understands that the Customer is the Customer(s) who is approved by the Bank to receive Premier Banking services as referred to in these Banking Services Terms and Conditions.
General terms and conditions related to (i) Electronic Banking Service facility; (ii) the terms and conditions related to each Product and/or Service as stated in these Terms and Conditions, or in the Bank's Product and/or Service Guide or the Product Guide Book or other names as determined by the Bank; and (iii) the form or application form for the account opening is an integral and inseparable part of these Terms and Conditions.
The Bank will always uphold the enforcement of Good Corporate Governance (GCG) principles. Giving or receiving gifts/present, commissions or bribes in any form to the Commissioners, Directors and employees of the Bank is considered a serious violation and if known, it must be reported to the Bank through the Bank's whistleblowing service channel, namely: Website: https://whistleblowing.ocbcnisp.com and/or Email: firstname.lastname@example.org.
The Customer agrees that by considering the applicable laws and regulations, the Bank has the right to outsource or sub-contract each part of the Bank's banking implementation/operations relating to Products and Services provided to the Customer to third parties based on the terms and conditions deemed good by the Bank, without prior notice or approval from the Customer. The implementation/operation by such third parties include clearing checks, maintaining and storing/archiving documents and records, making cards and others. The Bank is responsible for every action and omission of the third party chosen and appointed by the Bank based on the cooperation agreement between the Bank and the third party. The Customer further agrees that the Bank may use the services or services of any agent to, and delegate to the agent the implementation of our duties and rights in connection with the Products and Services including other investment products offered to and used by the Customer on terms and conditions deemed good by the Bank and by taking into account applicable laws and regulations.
The Bank's negligence or delay in carrying out a right or authority regulated in these Terms and Conditions does not constitute a waiver of that right or authority, nor does the exercise of one or part of such rights or authority do not constitute a waiver of the exercise of the other rights or authorities or the further exercise of such rights or authorities.
Unless specifically agreed, the Customer understands that the Bank is not obliged to perform duties or services other than those stipulated in these Terms and Conditions.
The Customer agrees that if any of the articles in these Terms and Conditions are declared invalid for any reasons whatsoever it does not invalidate other articles and these Terms and Conditions will continue to apply.
The Customer agrees that in the event the Bank has submitted a notification, the notification is deemed to have been delivered by the Bank and is binding on the Customer.
In the event that these Terms and Conditions are translated in another language, if there is a discrepancy or conflict between the Indonesian language and the foreign language of the text, the Indonesian language text shall prevail.
The Customer acknowledges that the Customer has received sufficient explanation regarding the characteristics of the Products and/or Services offered/marketed to the Customer and the Customer has known and understood all the consequences of the use of the Products and/or Services including the benefits, risks and costs attached to the Products and/or Services offered/marketed by the Bank.
THESE TERMS AND CONDITIONS HAVE BEEN ADJUSTED TO BE IN ACCORDANCE WITH THE LAWS AND REGULATIONS INCLUDING THE REGULATION OF THE FINANCIAL SERVICES AUTHORITY.