Premier Banking

 

TERMS AND CONDITIONS
OF ACCOUNT OPENING AND ARRANGEMENT OF PT BANK OCBC NISP TBK

 

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.

  1. DEFINITION AND UNDERSTANDING
    1.1

    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.

    1.2

    Unless otherwise specified in context:

    1. The title is not intended to interpret the meaning and purpose of the articles under these Terms and Conditions;
    2. words used in the singular form also shall include the plural form and vice versa;
    3. words which has a meaning of people shall also include business entities.

  2. ACCOUNT OPENING
    2.1

    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.

    2.2

    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.

    2.3

    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.

    2.4

    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.


  3. CANCELLATION OF ACCOUNT OPENING APPLICATION

    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.

  4. DEPOSIT INSURANCE
    1. The Customer hereby acknowledges and agrees that in accordance with the prevailing provisions of the laws and regulations concerning the Indonesia Deposit Insurance Corporation (hereinafter referred to as "IDIC/LPS Rules and Regulations"), the deposits guaranteed by the Indonesia Deposit Insurance Corporation are limited to deposits which include the principal value of deposits and interest with a certain maximum amount and with the maximum interest rate applicable which shall be determined from time to time based on the Rules and Regulations of IDIC/LPS.
    2. The Customer understands and agrees that if the Customer's deposit which includes the principal amount and interests exceeds the maximum amount guaranteed by IDIC/LPS and/or if the Customer receives effective deposit interests from the Bank that exceed the maximum guaranteed interest rate determine by IDIC/LPS from time to time, including cash or cashback related to the collection of funds that cause the interest rate of the Customer to be above the guaranteed interest rate determine by IDIC/LPS, in this situation the Customer’s deposit is not included in the deposit insurance program by IDIC/LPS.
    3. If the Customer (i) earns a deposit interest in excess of the reasonable interest rate as determined by the IDIC/LPS, (ii) purchases capital market products and (iii) carry out placement on the Structured Products, then the deposit, capital market products and the Structured Products are not guaranteed by IDIC/LPS entirely (both principal and interests).

  5. CUSTOMER INSTRUCTION
    5.1

    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.

    5.2

    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.

    5.3

    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.

    5.4

    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.

    5.5

    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.

    5.6

    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.

    5.7

    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.

    5.8

    The Bank shall not be liable for any losses suffered by the Customer arising from or related to:

    1. All Instructions/orders and communications from the Customer;
    2. Cancellation of Instructions/orders for transactions that have been received and carried out by the Bank;
    3. All problems related to telecommunications networks/ connection;
    4. All incorrect or incomplete orders/ Instructions of the Customer;
    5. All mistakes or negligence of the Customer in following the terms and conditions, guidance, procedures and instructions provided by the Bank;
    6. All delays or refusals to carry out Instruction/ orders by the Bank;
    7. All losses in any form due to or related to the implementation of Instructions/orders and communications which according to the Bank have been received from the Customer according to the information, data and documentation stored in the Bank’s system.

  6. CANCELLATION AND TERMINATION OF PAYMENT OF THE CHEQUE/GIRO CHEQUE BY THE CUSTOMER
    6.1

    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:

    1. cheque/giro cheque (bilyet giro) number;
    2. the date of issue;
    3. the name of the recipient (if any); and
    4. the amount.

    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.

    6.2

    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).


  7. ACCOUNT STATEMENT AND TRANSACTION CONFIRMATION
    7.1

    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.

    7.2

    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.

    7.3

    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).

    7.4

    The Customer acknowledges that in connection with the market value of each investment in the financial instrument contained in the Account Statement:

    1. The value is only an indicative value on the date stated in the Account Statement; and
    2. The market value may differ significantly from the actual trading price (if any) at the time of the purchase, sale or termination of the investment.
    7.5

    The Customer agrees that:

    1. The Bank’s electronic records from every Account Statement and or Transaction Confirmation are final, conclusive and binding on the Customer;
    2. The Customer cannot debate the accuracy or authenticity of the Bank's electronic records, unless the Customer can prove otherwise.

  8. INTERESTS
    8.1

    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.

    8.2

    Interest income received by the Customer will be subject to tax in the amount in accordance with applicable taxation laws and regulations.


  9. FEES/COMMISSIONS
    9.1

    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:

    1. A Product and/or Service;
    2. Obligations of any kind that arise in connection with an Account(s) or others; or
    3. Overdraft Value in the Account(s).
    9.2

    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.

    9.3

    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.


  10. CONSENT TO PROVIDE INFORMATION
    10.1

    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:

    1. A party entering into an agreement with the Bank, including agents and third parties who are appointed or related, either directly or indirectly;
    2. Auditors, professional advisors including legal advisors of the Bank and related parties of the Bank;
    3. Police and public officials who carry out investigations in connection with an offense including alleged violations/money laundering;
    4. Service providers used by the Bank (including administrative services or other services) provided that those parties are obliged to maintain confidentiality of the relevant data;
    5. Any curator (administrator) appointed by the court or at the request of the Bank;
    6. Any person or entity that is permitted or allowed to receive disclosure based on the provision of the laws and regulations;
    7. Any representatives and government officials or competent authorities in Indonesia or other countries that based on agreements/regulations require the Bank to comply.
    10.2

    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.


  11. DATA UPDATES
    11.1

    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.

    11.2

    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.


  12. DORMANT ACCOUNT
    12.1

    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.

    12.2

    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.

    12.3

    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.

    12.4

    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.

    12.5

    Once the dormant Account is activated, the Customer is required to make a transaction using the account.

    12.6

    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.


  13. ASSIGNMENT/ENCUMBRANCE OF 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.


  14. OVERDRAFT ON AN ACCOUNT
    14.1

    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.

    14.2

    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.


  15. RIGHT TO DEBIT RELATED TAXES
    15.1

    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).

    15.2

    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.


  16. REJECTION AND POSTPONEMENT OF TRANSACTION
    16.1

    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.

    16.2

    The Customer agrees and acknowledges that to the extent permitted by the applicable laws and regulations:

    1. The Bank has the right to refuse to carry out an Instruction on a transaction in an Account; or;
    2. The Bank has the right not to send an activation code or OTP or other code that has the same purpose; or
    3. The Bank has the right to hold funds in the Account and limit the Customer's right to withdraw from an Account,

    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.

    16.3

    The Customer agrees that the Bank reserves the right:

    1. delaying or stopping either temporarily or permanently including extending the temporary suspension, or refusing to process part or all of the Instructions/transactions either at the initiative of the Bank itself or at the request/instruction of a competent authority; and/or
    2. blocking or holding funds in the Account including debiting the Account and limiting the Customer's right to withdraw funds or freezing the Customer's activities of the Account (including other Accounts owned by the Customer at the Bank) or deny/ limiting the authority to access the Bank facilities/services (including safe deposit box);and/or
    3. fulfill its obligations related to Customer's information to the authorities in accordance with applicable laws and regulations; and/or
    4. being informed of the source and purpose of funds of the Customer’s Account or the authorised person or the owner of the funds, in relation to the transaction that is considered unreasonable or not in accordance with the profile; and/or
    5. carry out blocking as a follow up on a report of an suspected criminal action, unblocking and/or debiting of an Account to return funds to another Customer’s Account at the request of an interested party if based on the results of the Bank's investigation it is reasonably suspected or found to be known that the data or information provided by the Customer to the Bank is incorrect;
    6. to decide to close the Customer's Account with the conditions as stated in Article 16.1 or Article 16.3 (v) above.
    16.4

    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.


  17. COMPENSATION/CALCULATION
    17.1

    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.

    17.2

    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.

    17.3

    The Bank will notify the Customer of any such blocking or debiting as referred to in Article 17.1 above.


  18. LIMITATION OF LIABILITY
    18.1

    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.

    18.2

    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:

    1. The Bank acts in good faith at the Customer's Instruction;
    2. The operation of the Account is obstructed or disrupted due to reasons outside the Bank's authority;
    3. Caused by delays or failure of the delivery facility or communication of party (parties) other than the Bank;
    4. The fund which is credited or debited from the Account is reduced in value due to tax, depreciation or not available due to restrictions (arising from any kind) in the conversion, takeover, delivery, voluntary, expropriation, implementation of government or army power, war, strike or other causes beyond the Bank’s power;
    5. Arising from or in connection with missing cheque/ giro cheque;
    6. Caused by the Bank’s rejection of Customer Instruction due to differences in Customer's signature and data of Customer at the Bank;
    7. Arises from the negligence, failure or criminal activity of the Customer;
    8. Due to action or inaction (including negligence or intentional crime) or bankruptcy of agents, correspondents or third parties used by the Bank;
    18.3

    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.

    18.4

    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.

    18.5

    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.


  19. INDIVIDUAL ACCOUNT

    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.


  20. JOINT ACCOUNT
    20.1

    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:

    1. If the Joint Account is operated with a single signature (Joint Account "Or"), the Instruction of one of the holders of the Joint Account will be accepted by the Bank and the instruction is binding on the other Joint Account holder.
    2. If the Joint Account is operated with a shared signature authority (Joint Account "And"), then each Instruction given must be in writing and must be given by all of the Account holders in one or more Instructions, all of which are one and the same document.
    3. Customer of a Joint Account shall be responsible for any consequences and risks that may arise in connection with the opening and carrying out of transactions related to the Joint Account, and the Bank will not provide compensation and/or responsibility in any form to the Customer or any other party for claims and losses arising from disputes/conflicts (if any), which occurred between the Customer who forms/request the opening of the Joint Account
    4. At the time of receipt of notice of death of one of the holders of the Joint Account, the Customer agrees that the Bank reserves the right to:
      1. Suspend the Account and retain all credit balances until the replacement of the Joint Account holder provides the deed or document required by the Bank in accordance with the prevailing laws and regulations; or
      2. pay the credit balance in the Joint Account to the existing account holder and the beneficiary of (the deceased Customer), and if there is more than one existing account holder, then to the account holders and the beneficiary, provided that before the payment is made, the debt of one of the Joint Account holders to the Bank will be settled with the credit balance of the Joint Account
    5. The holders of the Joint Account and their beneficiaries, together with the holders of the Joint Account, promise to release the Bank against all claims, costs, fees, losses and damages, including those arising from:
      1. The payment of credit balance in the Joint Account to the Account holders who are still remaining in the same manner as above;
      2. The suspension of Joint Account and retention of credit balance in the Joint Account in the same manner as above; and
      3. The disputes between the holders of the Joint Account and individual representatives of the deceased Joint Account holder.

  21. ACCOUNT(S) ON BEHALF OF A COMPANY

    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.


  22. TERM DEPOSIT
    21.1

    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.

    21.2

    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.

    21.3

    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.


  23. COMMERCIAL PAPERS COLLECTION SERVICES (INKASO)
    23.1

    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.

    23.2

    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.

    23.3

    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.

    23.4

    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:

    1. If the payment is made into the Account, the credit is made conditionally and can be canceled until the funds from the payment have been received by the Bank.
    2. The bank can deliver the items directly to the chosen issuing bank or correspondent bank.
    3. The rights of the Bank to its Customer on each item are not diminished because of:
      1. loss, damage or rejection of the item;
      2. claims fulfilled by the Bank; Or
      3. agreement (which is authorised by the Customer) made with a third party.
      4. rejection of the item, voucher or report.
    4. The Customer hereby states not to protest, surrender and reject the item, and hereby waives their right to reclaim or request a set-off against the Bank.

  24. WITHDRAWAL OF FUNDS
    24.1

    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.

    24.2

    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.

    24.3

    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.

    24.4

    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.

    24.5

    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.

    24.6

    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.

    24.7

    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.

    24.8

    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.

    24.9

    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.

    24.10

    Non-sufficient amount in the check/giro cheque,

    1. The withdrawal procedure of a non-sufficient amount of a cheque/giro cheque is governed by and subject to the regulations of Bank Indonesia.
    2. In the event that a cheque/giro cheque is deposited to another bank without sufficient amount of funds, the cheque/giro cheque or such payment shall be reported to Bank Indonesia in accordance with the prevailing laws and regulations and the Bank shall issue a warning letter to the Customer.

  25. USE OF CUSTOMER ACCOUNT
    25.1

    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.

    25.2

    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.

    25.3

    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).

    25.4

    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.


  26. PAYMENT OBLIGATIONS OF 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.


  27. BLOCKING AND DEBITING OF ACCOUNT
    27.1

    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:

    1. there is a request from the Customer for the Bank to block the Customer’s Account based on the procedure as determined by the Bank from time to time;
    2. there is a notice that the Customer is deceased or becomes incompetent according to the law. The unblocking is carried out if there is convincing evidence that the Customer is alive/legally competent or at the request of the other party (such as the beneficiary, guardian/curator) based on evidences received by the Bank;
    3. for a Joint Account, (i) there is a dispute amongst the Customers of the holders of the Joint Account or (ii) the deceased of one of the Joint Account holders. Where related to a Joint Account dispute, the unblocking is carried out by the Bank after it has received a request or a written Instruction from the Joint Account Customer to unblock the Joint Account or the existence of an enforceable ruling;
    4. for security measures of the Customer's assets, there is a request from the police and/or prosecutors or foreclosure by the court and/or competent institution or there is a suspicion of a counterfeiting activity, a report of an alleged criminal action or other events that may result in losses to the Bank and/or the Customer;
    5. there is an indication and/or suspected internal dispute from the Customer or because of other matters that could be detrimental to the Customer until an evidence of a dispute resolution is received by the Bank.
    27.2

    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.


  28. ACCOUNT CLOSURE
    28.1

    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.

    28.2

    On the closing of the Account:

    1. Pursuant to Article 28.1 above the Bank is exempted from all of its obligations in relation to the Account and pays the Customer the amount of the credit balance of the account and in the currency according to the Customer's Account.
    2. The Customer shall promptly return to the Bank cheque/giro cheque that has not been used, or if not returned, the Customer shall release the Bank from any losses, costs or expenses arising from the misuse of the cheque/giro cheque.
    3. The Bank has the right to charge/ receive payment from the Customer for any obligation(s) which has not been fulfilled by the Customer including the interest, fines and/or other costs imposed against it (if any).
    4. If after the closure of the Account(s) there are still remaining funds in the Account(s), then the remaining funds will still become the property of the Customer and the Bank will credit the funds to another account at the Bank on behalf of the Customer or to an escrow account, after the deduction of the account closure fee and other fees and payment obligations which has not been fulfilled by the Customer.
    5. The remaining funds in the escrow account as referred to in paragraph (d) above that have not been or are not withdrawn by the Customer are not entitled to any interest or compensation, and the Bank has the right to charge administrative fees or charge the remaining funds in that account. If the Customer does not make a withdrawal or does not provide any instruction to the Bank for the funds in that escrow account, then the Bank has the right to take action(s) as regulated in the prevailing laws and regulations.
    28.3

    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):

    1. The failure of the Customer to comply with these Terms and Conditions;
    2. There is a reason to apply bankruptcy against the Customer;
    3. Upon the deceased of the Customer, if he/she becomes insane or incapable (legally incapable);
    4. Application submitted by a party for the appointment of a curator;
    5. If the performance of the obligations in accordance with these Terms and Conditions becomes contrary to the law;
    6. If the account balance is below the minimum amount as determined by the Bank from time to time;
    7. Based on the consideration of the Bank, the account is used not in accordance with the purpose of the account opening;
    8. If the name of the Customer is listed in the Blacklist issued by:
      1. Bank Indonesia (Central Bank);
      2. International Institutions (such as list of terrorists issued by the United Nations);
      3. Government agencies/ competent Institutions;
      4. Bank Supervision List.
    9. The existence of orders/Instructions from an authorised officer under the applicable laws and regulations;
    10. Due to any other reasons based on the consideration of the Bank.
    28.4

    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:

    1. The criteria for completeness of data supporting documents/information provided by the Customer does not meet the requirements as stipulated in the Financial Services Authority (Otoritas Jasa Keuangan) regulations regarding the Implementation of Anti-Money Laundering Programme and the Prevention of Terrorism Financing in the Financial Services Sector;
    2. The description or information provided by the Customer is doubtful to its correctness and/or the documents used is known or suspected to be false;
    3. Has a source of transaction funds known and/or suspected derived from a criminal action;
    4. In a form of a shell bank or a commercial bank or a sharia bank that allows the Account to be used by a shell bank;
    5. Is on the listed of suspected terrorists and terrorist organisations, and/or a list of funding for the Proliferation of Weapons of Mass Destruction;
    6. Registered as sanctions person/entities and/or originating from a country that is included in the comprehensive sanctioned countries/jurisdictions.

    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.


  29. SECURITY OF DATA ELECTRONIC TRANSACTION
    29.1

    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.

    29.2

    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.


  30. EVIDENTIARY MATTERS
    30.1

    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.

    30.2

    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.

    30.3

    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.

    30.4

    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.

    30.5

    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.

    30.6

    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.


  31. APPLICATION OF OTHER TERMS AND CONDITIONS

    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.


  32. BRANCHES, SUBSIDIARIES AND AFFILIATES

    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.


  33. COMMUNICATIONS
    33.1

    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.

    33.2

    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:

    1. if the Customer is an individual, then to the Customer or the individual representative of the Customer concerned. If the Customer is a company or not an individual, then to the company’s officer or the authorised person to represent the Customer;
    2. By sending it to the Customer or any of its officers or authorised persons representing the Customer (whichever is relevant) to the latest Customer's address as registered at the Bank;
    3. through facsimile or electronic mail (email) addressed to the facsimile or electronic mail (email) addreess of the Customer registered at the Bank.
    33.3

    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.


  34. CHANGES

    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:

    1. announcing such change in the Account Statement sent to the Customer; or
    2. set out a notice of that change at the branch office of the Bank; or
    3. through other written notices; or
    4. through electronic media; or
    5. through other means of communication as determined by the Bank at its sole discretion.
    by considering to the prevailing laws and regulations.

    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.


  35. FORCE MAJEURE

    The Customer agrees that the Bank is released from any liability as a result of Force Majeure events.


  36. RELATED PROVISIONS ON FATCA AND CRS
    36.1

    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.

    36.2

    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.

    36.3

    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.


  37. SEVERABILITY

    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.


  38. APPLICABLE LAWS AND JURISDICTIONS

    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.

  39. AUTHORISATION

    All authorisations that are provided by the Customer to the Bank are in accordance with these Terms and Conditions:

    1. irrevocable;
    2. allows full substitution of rights;
    3. allows full declaration by the Customer, where and against anyone, in all matters and actions concerning to the matters relating to these authorisations.

    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.


  40. RECORDING

    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.


  41. CONSENT OF PRODUCT OFFERINGS AND BANKING 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.


  42. SAFE DEPOSIT BOX (SDB) FACILITY
    1. Lease Period, Lease Price and Security Deposit.
      1. The lease period of Safe Deposit Box (SDB) is 1 (one) year since the Customer (a) submitted the application for the use of the SDB facility to the Bank, (b) paid the security deposit (“Security Deposit”), and (c) paid the lease price of the SDB at the amount as informed by the Bank ("Lease Price").
      2. The Customer agrees that during the lease period, the Customer will be charged the Lease Price, Security Deposit and late penalty (if any) in accordance with the prevailing regulations at the Bank. The Customer also agrees that the Bank has the right to review and/or change the Lease Price and/or Security Deposit and/or late penalty with prior notice through the Bank's office or other media determined by the Bank with respect to the prevailing laws and regulations.
      3. The Customer agrees that the Bank will block the Security Deposit during the term of the lease to guarantee settlement of the Customer's unpaid liabilities in the future. The blocking of the Security Deposit will be released by the Bank at the time or after the Customer has paid all liabilities and/or other costs (if any) to the Bank, including, and not limited to the return of the SDB key to the Bank in full and without damage. If the SDB key is lost or damaged due to Customer's negligence, the Customer agrees that the Bank has the right and authority to account the Security Deposit as costs replacement of the SDB key and the opening/ dismantling the SDB. If the costs for replacement of the SDB key and the opening/ dismantling the SDB are greater than the Security Deposit, the Bank will debit the Account as a compensation of such shortage.
      4. In the event the Customer extends the SDB lease period, the Lease Price of the next Lease Period must be settled in advance at the amount of the Lease Price applicable at the time of renewal and will be debited directly from the Customer’s Account.
      5. The payment of the Lease Price which has been paid cannot be refunded by the Customer for any reason whatsoever. Unless the SDB facility is canceled by the Bank, the Bank will return the Lease Price for the period of lease that has not been enjoyed by the Customer on a pro-rata basis.
      6. The Bank shall provide the SDB key to the Customer upon fulfilment of the conditions as set out in point 1(i) above.
    2. Rules of Leasing and Using the SDB.
      The Customer agrees and warrants the followings:

      1. Individual Customers and business entities may open the SDB by completing the opening form as provided by the Bank.
      2. The SDB can only be opened with 2 (two) different key types of SDB, namely 1 (one) SDB key held by the Customer and 1 (one) type of master key held by the Bank. The Customer shall keep the SDB key that has been handed by the Bank to the Customer to be not damaged, lost and/or being misused by another party.
      3. Not duplicating the SDB key, either by themselves or with the assistance of other parties other than the Bank.
      4. Storing the goods in or out of SDB can be conducted on any Business Day during the Bank’s working hours or on any other day/hour to be determined later on by the Bank, provided that the length of each use of SDB is at a maximum of 15 (fifteen) minutes.
      5. The one who is allowed to enter the SDB room/the vault and use the SDB is only the Customer as the lessee and/or his/her proxy or the beneficiary of the Customer with the requirement that the number of persons who can enter the vault is of a maximum of 2 (two) persons.
      6. The SDB shall not be used to store any objects prohibited by the laws and regulations of the Government of the Republic of Indonesia and objects that are suspected to be dangerous/ damaging to the SDB, buildings and other objects that are in the vicinity.
      7. at any time upon the request of the Bank (whether due to the reason of improvement or for any other reason) is willing to exchange the leased SDB with another SDB appointed by the Bank. For the purpose of the exchange, the Bank and the Customer agree to express it into a document or other written agreement.
      8. To be fully responsible for the use of the leased SDB and releases the Bank against all losses as a result of the loss of goods stored, changes in quality, defects, loss, damage or other matters that have caused the change of shape or economic value of the goods or loss of the goods, including the losses as a result of the forced opening of the SDB.
      9. shall not lease back, assign, sell or encumber the SDB or do any other things that cause the transfer or right to use the SDB to any other party.
    3. Extension of Lease Period and Late Penalty
      1. In the event the lease period has expired, and the Bank has not received the notification of termination from the Customer, then the lease period will be renewed automatically for the lease period of 1 (one) year and the Bank will debit the account to pay for the renewal of the lease period.
      2. If the funds in the Customer's account are not sufficient to pay the renewal of the lease in time in accordance with the provisions of the point (i) above, then the Bank will charge the Customer a late penalty for the payment of the renewal of the lease period ("Late Penalty") according to the prevailing regulations of the Bank. The Late Penalty is calculated from the date of the renewal of the lease period until the payment is received by the Bank by debiting the Customer Account in the amount of the renewal of the lease period and the Late Penalty.
      3. In the event of an automatic renewal of the lease period and late payment of the lease renewal as mentioned above take place, the Bank will send the Customer a notice (hereinafter referred to as "Notice") with the following mechanisms:
        1. The Bank shall send the 1st Notice in the event that the Customer has not paid the lease renewal period and/or the Late Penalty within 30 (thirty) calendar days from the expiry date of the lease period.
        2. The Bank shall send the 2nd Notice in the event that the Customer has not paid the lease renewal period and/or the Late Penalty within 30 (thirty) calendar days as of the date of the issuance of the 1st Notice.
        3. The Bank shall send the 3rd notice in the event that the Customer has not paid the lease renewal period and/or the Late Penalty within 30 (thirty) calendar days as of the date of issuance of the 2nd Notice. Furthermore, the 3rd Notice also contains a warning from the Bank to the Customer for the risk of force opening of SDB if the Customer has not/cannot fulfill his/her obligations within the stipulated time.
      4. the Customer or his/her proxy or the beneficiary of the Customer is prohibited from entering the SDB vault to use the SDB before settling the payment of the lease renewal fee and/or the Late Penalty.
      5. The Bank will force open the SDB if the Customer has not paid the lease renewal period and/or the Late Penalty within 30 (thirty) calendar days after the date of the issuance of the 3rd Notice.
    4. The Forced Opening of SDB
      1. The Customer agrees that the Bank reserves the right and has the authority to dismantle/force to open the SDB leased by the Customer for one or more of the following reasons:
        1. Due to a request from the Customer based on certain reasons, such as the Customer or the proxy or his/her lawful beneficiary has lost or damaged the SDB key which is in his or her possession, or other reasons which can be acceptable to the Bank;
        2. Due to carrying out request or order from law enforcement agency or other competent authorities;
        3. Due to the assessment of the Bank, the Customer violates the terms and conditions of the SDB facility.
        4. If the Customer does not collect and return the SDB key within 3 (three) months after the lease period expires or is terminated;
        5. If the Customer has not/does not settle the payment obligation until the deadline that has been determined;
        6. The Customer cannot be contacted by the Bank or until a certain period specified by the Bank, the Customer has not come to settle his or her obligations under these Terms and Conditions of SDB Facility.
      2. In the event of the forced opening of SDB, the Customer agrees to release the Bank from any risks or demands from the Customer or any other parties, including releasing the Bank from any changes in the form/value/condition or loss of the goods/contents of the SDB.
      3. In the event that the Bank forces open the SDB, then this forced opening can be witnessed by the Customer or the proxy or the lawful beneficiary of the Customer. In the event that the Customer or the proxy or the lawful beneficiary of the Customer is absent, then the Bank has the right to present a Notary as a witness of the forced opening of the SDB and the service fee of the Notary is payable by the Customer or the lawful beneficiary of the Customer.
      4. In the forced opening the SDB as referred to in paragraph (iii) above, the Bank and the Notary shall make Minutes of Meeting of Forced Opening which mentions the type and the quantity of goods stored in the SDB. The Minutes of Meeting of Forced Opening is binding to the Bank and the Customer or the Customer or the proxy or his/her lawful beneficiary, in accordance with the prevailing laws and regulations and shall become undisputable evidence to be used inside or outside of the Court.
      5. All costs incurred from the forced opening of the SDB, including the cost to return the shape and function of the SDB as it should be, shall be the liability and responsibility of the Customer. If it is not settled by the Customer within 30 (thirty) calendar days since the forced opening is completed, the Bank is provided by the Customer a power and authority to debit the Security Deposit and/or debit the Account and other accounts on behalf of the Customer at the Bank in order to the repay such fees.
      6. Specifically for the forced opening of SDB because the Customer violated the Terms and Conditions of the SDB Facility, the Customer agrees that the Bank shall only manage the content of the forced open SDB for a period of 1 (one) year with a monthly administrative fee as notified by the Bank, calculated from the date that the SDB was forced open. If the contents of the forced open SDB are not collected by the Customer or the proxy or the lawful beneficiary within 1 (one) year after the forced opening, then the Customer hereby agrees to provide power and authority to the Bank to carry out the following matters:
        1. On goods that have a sale value, there shall be a public sale through an auction in front of the Class II Auction Officer, where the proceeds from the auction sale are used to pay off all costs and fines to which the Customer is obliged, and the remainder will be credited to the Customer Account or other account on behalf of the Customer at the Bank;
        2. For documents and/or other goods that do not have a sale value, it shall be sent to the correspondence address of the Customer as registered in the Bank's system, which shipment shall be using a tracking courier service.
      7. If the debit made by the Bank is not enough to settle the costs/liabilities of the Customer to the Bank, then the Customer agrees to give power and authority to the Bank to sell and/or transfer part or all of the goods stored in the SDB in any way and at any reasonable price by the Bank, and the proceeds of the sales/transfer (after being calculated with the costs) are used to pay/ compensate any outstanding costs/liabilities of the Customer to the Bank.
      8. If the result of the sale/transfer of goods stored in SDB made by the Bank as mentioned above exceeds the value of the Customer's obligation to the Bank, then the excess will be credited to the Customer's account or other account on behalf of the Customer at the Bank.
      9. In the event that the goods stored in the SDB could not be sold/transferred or the proceeds of the sale/transfer are insufficient to settle all costs/liabilities of the Customer to the Bank, the Customer agrees that the deficits remains to be the responsibility of the Customer or the proxy or the lawful beneficiary of the Customer in accordance with the prevailing laws and regulations.
      10. In the event that the forced opening of the SDB was carried out by the Bank due to the Customer's breach of the Terms and Conditions of the SDB Facility, then the term of lease shall expire by itself and still provide full rights to the Bank to collect and obtain repayment of any outstanding fees/liabilities, which has not been settled by the Customer to the Bank in accordance with the provisions regulated under these Terms and Conditions of SDB Facility.
      11. The Customer guarantees and releases the Bank of the opening/forced opening of SDB as set out in this paragraph.
    5. End of SDB Lease Period
      1. The SDB Lease period shall expires if:
        1. Based on the request from the Customer to the Bank by no later than 30 (thirty) calendar days prior to the expiry date of the lease period, and the documents as required by the Bank (if necessary);
        2. The Customer or the proxy violates the Terms and Conditions of the SDB Facility;
        3. The existence of an agreement between the Customer and the Bank to terminate the SDB lease period even though the lease period (including the extension) is not yet due;
        4. The existence of a ruling/decision of the Court and other competent institutions; Or
        5. There is a certain reason or consideration from the Bank that has caused the Bank to decide to terminate the SDB lease period prior to the lease period.
      2. When applying for the termination of the lease and the closure of SDB, the Customer agrees of the following:
        1. The Customer/proxy must vacate/retrieve all goods stored in the SDB;
        2. The Customer/proxy must return the SDB key in full, complete, and undamaged;
        3. The Customer/proxy must complete all existing obligations to the Bank (if any) and the Terms and Conditions of the SDB will remain effective until all such obligations are fulfilled;
        4. The Lease Price paid to the Bank cannot be withdrawn.
      3. The Customer hereby agrees to give the Bank the power and authority to unilaterally terminate the lease period if the Customer violates the Terms and Conditions of the SDB Facility and/or if there are certain reasons/considerations of the Bank to make such termination.
      4. In the event that the lease period expires for reasons as referred to in paragraphs 5(i) a, b, c, and d above, the payment of the Lease Price is not refundable. The refund and/or the use of the Security Deposit (if any) as a result of such termination is made in accordance with the prevailing provisions as stipulated in the Terms and Conditions of the SDB Facility.
      5. In the event the lease period expires for the reason as referred to in paragraph 5 (i) e above, then the payment of the Lease Price can be refunded proportionally based on the Bank calculation. The refund and/or use of the Security Deposit (if any) as a result of such termination is made in accordance with the prevailing provisions as stipulated in the Terms and Conditions of the SDB Facility.
      6. If the Customer is deceased (individual)/dissolved (legal entity/business entity) before the lease expires, then:
        1. The beneficiary of the Customer or the legal successor of his/her rights shall terminate the SDB facility by submitting documents as required by the Bank and fulfil the obligations according to the Terms and Conditions of the SDB Facility;
        2. Based on the request of the beneficiary of the Customer, or the proxy, or the legal successor of his/her rights, the Bank has the right to force open the SDB and take out and remove the Goods. The forced opening shall be carried out before a Notary as a witness and Minutes of the Forced Opening shall be made by stating its contents;
        3. The Bank reserves the right to store according to its discretion and in a place as deemed reasonable by the Bank of the goods which have been removed from the SDB forced opening. The storage period of those goods is 1 (one) year after the forced opening.
      7. Up to the expiration of the termination of the lease period which is due to any reason, the Customer agrees to give power and authorisation to the Bank to debit the Security Deposit and/or debit the Account (including foreign currency account to be converted equivalent to Rupiah) for the repayment of all outstanding fees/liabilities to the Bank.
      8. If at the end of the lease period the account balance is insufficient to debit the charges as referred to in the Terms and Condition of SDB Facility, the Bank and the Customer agree as to the following provisions:
        1. The Customer shall immediately deposit a minimum of funds in the amount of the outstanding fees within 3 (three) months after the lease has expired;
        2. If up to the deadline as specified in point a above the balance in the account remains insufficient, then the Customer is willing to be subject to a Late Penalty according to the prevailing provisions of the Bank, the Late Penalty is calculated from the expiry date of the lease period until the funds in the account is sufficient and the Bank is given the power by the Customer to debit the account to settle the Late Penalty;
        3. In the event that the Customer has not repaid the lease term and/or the Late Penalty period within 30 (thirty) calendar days from the date of the 3rd Notice, the Customer authorises the Bank to open/force open the SDB according to the Terms and Conditions of the SDB Facility.
      9. Any obligation which has not been settled by the Customer at the end of the lease period shall remain binding on the Customer. Therefore:
        1. The Customer is subject to the provisions which have been agreed in the Terms and Conditions of the SDB Facility until all such obligations are fulfilled by the Customer; and
        2. For all outstanding obligations of the Customer until the end of the lease period and the closure of SDB, the Customer agrees that the Bank retains the right and authority to invoice and request settlement to the Customer or the proxy or the lawful beneficiary of the Customer.
      10. In the event of a termination of a lease period, the Customer and the Bank agree to waive the application of provision of Article 1266 of the Indonesian Civil Code.

  43. TRANSACTION AND ESCROW ACCOUNTS

    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.


  44. CASH MARGINS
    1. The Customer agrees that in the event the Bank requires the Customer to provide Cash Margin for the purchase and/or placement of certain Products in the amount of the value of the transaction for each of the Product to be transacted by the Customer at the Bank, then:
      1. The Customer agrees to deposit the Cash Margin to the Bank at least 1 (one) Business Day prior to the transaction of the product is carry out by the Customer; and
      2. Ensuring from time to time that the Cash Margin is still within the limit of the Maintenance Margin value as stipulated by the Bank to the Customer.
    2. The Customer agrees that in the case that an administrative issue arises on the payment of interests against the Cash Margin placed by the Customer at the Bank, the Customer hereby waives the rights of the interest as part of the Bank's consideration in accepting the opening of the Customer’s account.
    3. The Cash Margin provided by the Customer to the Bank is rightly owned by the Customer and is not in the process or being encumbered, except with the prior approval of the Bank, or being confiscated to any party.
    4. If due to Mark to Market or other matters, the Cash Margin provided by the Customer is under the Maintenance Margin, then the Customer must provide additional Cash Margin in accordance with the request of the Bank within 1 (one) Business Day since the Customer received a notification to increase the Cash Margin from the bank.
    5. In the event that the Customer fails to fulfill the obligation to increase the cash Margin, then the Bank reserves the right at any time, with notice to the Customer to decrease, terminate or cancel the transaction of the relevant Product. In the event of cancellation of the Customer's transaction involving the exchange rate, the Bank has the right to determine the exchange rate as the conversion value of the Customer’s transactions and the Customer received the determination applied by the Bank.

  45. AUTHORITY AND POWER TO THE BANK
    45.1
    Power to Debit, Credit and Blocking
    1. The Customer hereby provides the Bank the power and authority to debit, credit and block the Customer's account(s) in any currency at the Bank or any of its branches or its affiliates:
      1. For the purpose of each of the Customer’s transactions including transactions on Products requiring Cash Margin;
      2. For tax deduction purposes, in the event that the Bank is obliged by laws and regulations in Indonesia or where the Bank is subjected based on agreements/treaties to deduct tax;
      3. Repay/pay either partially or all of the obligations or amounts owed and payable by the Customer to the Bank either at present or in the future.
    2. In the matter of deducting or debiting of Account in relation to tax, the Customer agrees that if the tax is to be paid in a different currency than the currency of the account, then the Bank is authorised to convert it into the required currency using the prevailing exchange rate at the Bank and the cost of the conversion is borne by the Customer.
    3. Power of attorney with the right of substitution provided by the Customer to the Bank for debiting, crediting and blocking the Customer's account(s) at the Bank for the implementation and follow-up of each transaction of the Customer, whether stipulated in this Terms and Conditions or provided through facsimile, email and/or telephone shall constitute a valid power of attorney and shall not expire as long as the Customer is still registered as the owner of the Product, a Service user and Bank facilities or as long as the Customer still has obligations to the Bank.
    4. The Customer hereby waive all the rights to submit an objection or resistance in any form and for any reason whatsoever to the blocking, withdrawal and debiting imposed by the Bank.
    5. The Bank shall notify the Customer of any such blocking or debiting as stipulated in Article 45.1.a above, and the Customer and the Bank hereby waive and declare that 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.
    45.2

    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.

    45.3
    Authority for Custodian Bank Account Opening
    1. The Customer hereby authorises the Bank to block, debit or credit the Customer's account in connection with the execution of bonds transaction including payment of transaction fee(s) (if any).
    2. The Customer provides approval and authority to the Bank to open an account on behalf of the Customer at a Custodian Bank, and any party as determined by the Bank in relation to the bond transaction of the Customer.

  46. SPECULATION

    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.


  47. RISK DISCLOSURE STATEMENT FOR PRODUCT TRANSACTIONS
    47.1

    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.

    47.2

    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.

    47.3

    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.


  48. REPRESENTATIONS AND WARRANTIES

    In connection with transactions and services of the Product of the Bank, the Customer warrants:

    1. Shall not rely on the Bank and shall not treat the Bank as a financial advisor or fiduciary of the Customer for any purpose whatsoever. Therefore, the Customer agrees that the advice and recommendations which the Bank may provide at the request of the Customer are provided and made without any liability from the Bank.
    2. prior to placing and or conducting transactions, the Customer:
      1. has understood the characteristics, features, requirements and risks inherent on the relevant products;
      2. considers the Customer’s needs and objective of the investment and has made the independent assessment;
      3. assesses of whether the transaction and/or investment in the relevant Product is appropriate for the Customer.
    3. The Customer has full capacity and authority to act and take legal actions including taking all necessary actions to carry out the transaction, providing instructions, authorisation and providing approval and sign agreements, forms and other documents as required by the Bank.
    4. The execution of the transactions, instructions and obligations of the Customer under these Terms and Conditions shall not violate and contrary to the prevailing laws and regulations.
    5. The Customer is responsible for each of the Customer’s own tax obligations and to ensure compliance to it (i) the Customer complies with all applicable laws and regulations relating to taxes, (ii) the Customer has not committed or shall not commit any serious tax crimes or be subject to investigation or criminal proceedings either in the jurisdiction of the Republic of Indonesia or any other jurisdictions with respect to tax matters and (iii) None of the assets of the Customer derive from tax crimes.
    6. is obliged to cooperate and is cooperative in connection to investigations that may be filed by the Bank for the purposes of compliance with applicable laws and regulations, including providing all relevant information and/or documents that may be necessary for the investigation process.
    7. The Customer shall inform the Bank promptly in the event of any negligence or any circumstances which may have potential occurrence of negligence.
    8. Perform all necessary precautions to ensure that all invoices, cheques and or financial instruments shown and/or communicated to the Bank for any purpose are authentic and in accordance with the original owned by the Customer.
    9. Not being in the process of liquidation, bankruptcy or being petitioned for bankruptcy, or declared bankrupt based on the decision of the court.
    10. Hereby acting independently and free from the influence of any other parties.
    11. There is no negligence nor any event which can be construed as negligence arising or that will arise in connection with the execution of the transactions under the Terms and Conditions.
    12. shall carry out every banking transaction at the Bank with good care and full responsibility and not to act in the contrary to the prevailing laws and regulations in the territory of the Republic of Indonesia.
    13. hereby is willing to be liable for any claims from third parties and to reimburse any losses suffered by the Bank in connection with any breach of the representations and warranties as stated in this Article.

    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.


  49. OPENING OF CUSTOMER FUND ACCOUNT (RDN)
    1. Customer Data and Information
      1. The opening of RDN by the Customer through a Securities Company or Custodian Bank (as relevant) shall comply with all applicable requirements of the Bank, including those which are from the terms which have been and or shall later be stipulated by The Indonesia Central Securities Depository ("KSEI") and/or other related parties, such as but not limited to having a Sub Securities Account in C-BEST, having the Single Investor Identification (SID) at Securities Ownership Reference (AkSes) KSEI, provide data, information and other documents as required by the Bank.
      2. The Customer hereby represents and warrants the Bank that every data/document/information provided to the Bank through a Securities Company or the Custodian Bank (as relevant) in connection with the opening of the RDN is complete, in accordance with the original, true and in accordance with the actual situation and not/there has been no change or is the latest data/documents/information.
      3. All data, information, statements and/or documents obtained by the Bank through a Securities Company and or Custodian Bank in relation to the Customer or business activity or the Customer's transaction, shall belong to the Bank and the Bank has the right to match, assess, keep confidential or use it for the interest of the Bank in accordance with the prevailing laws without the obligation to inform or to request prior consent from the Customer, or to provide any guarantee or compensation with any reason whatsoever to the Customer.
      4. The opening of the RDN is conducted through the Securities Company or Custodian Bank, or the proxy of the Customer to the Securities Company or Custodian Bank as stipulated in this RDN Terms and Conditions.
      5. The Bank reserves the right to refuse an application for opening RDN, including but not limited to if information or data is found to be incorrect or misleading.
    2. RDN Provisions
      1. RDN can be a savings account or a cheque account.
      2. The Bank will not issue a savings book or any savings’ certificate of participation on behalf of the Customer and does not publish cheque/giro cheque as a way of withdrawal for a current account.
      3. The Bank shall deliver the account statement of RDN (e-statement) to the Customer through the Customer's e-mail address as registered at the Bank each month according to the Bank’s policy and the prevailing laws and regulations. The Customer hereby is fully responsible for the correctness of information on the e-mail address registered/ delivered to the Bank, and is fully responsible for ensuring that the Customer email can receive/hold the e-statement sent by the Bank. The Customer releases the Bank from any claim, lawsuit, demands or compensation submitted to the Bank, including from the Customer, for not receiving the e- statement in the Customer's e-mail, if the Bank can prove that the Bank has sent e-statements to the Customer's e-mail registered at the Bank.
      4. The Customer represents and warrants that the funds deposited/used/transacted at the Bank and RDN are not derived from or not for the purpose of money laundering.
      5. The RDN can only be used to perform securities transaction settlement transactions on behalf of the Customer at the Securities Company or the Custodian Bank (as relevant).
      6. The Customer cannot make withdrawal transactions and/or transfer of funds on the RDN. The Customer may only conduct deposit and transfer activities to the RDN and view the balance and mutation balance on the RDN
      7. Based on good faith, the Customer agrees that the Bank has the right to make corrections to the RDN books.
    3. 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:

      1. Opening the RDN on behalf of the Customer at the Bank including carrying out necessary actions for the purposes of administration and settlement of securities transactions of the Customer at the Bank;
      2. Verifying the true and accuracy of information provided by the Customer;
      3. Register the RDN opened on behalf of the Customer to the Securities Company’s Cash Management System (CMS) at the Bank.
      4. In relation to the account registration on the CMS, the Securities Company is granted the right to:
        • View the Investor’s Account balance;
        • Downloading and storing the RDN transaction data, operating the RDN, including and not limited to carrying out transfer/ overbooking instruction or debiting a certain amount of funds contained in the RDN to: (a) settle the payment of the Customer's Securities transaction, or (b) crediting the account as dedicated in writing by the Customer;
      5. Instruct the blocking of RDN to Bank;
      6. Instruct the opening of blocking of RDN to the Bank;
      7. Instruct the closure of RDN to the Bank;
      8. Perform RDN closure based on the data contained in the Securities Company.

      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.

    4. Management of Grievance (Complaints)
      1. In the event that the Customer will submit a complaint with respect to the RDN, then (a) the Customer can directly contact the Bank officer; or (b) the complaint may be submitted in writing by attaching a supporting document (if required) to the Securities Company or Custodian Bank (as relevant), hereinafter the Securities Company or Custodian Bank shall be obliged to follow up the Customer's complaint to the Bank.
      2. The Bank shall not be liable for any delay in handling complaints caused by negligence and/or delay in Securities Company or Custodian Bank in the event of a complaint submitted by the Customer through Securities Company or Custodian Bank.
    5. RDN Transactions
      1. If there is no other agreement, the funds deposit to RDN can be carried out by the Customer or Securities Company or Custodian Bank or other third party, while the withdrawal or transfer of funds from RDN can only be carried out by Securities Company or Custodian Bank based on the authorisation provided by the Customer on the condition that the withdrawal is made for the purpose of settlement of Securities transaction or funds transfer to a designated account.
      2. Withdrawal of funds from RDN is carried out only by using a withdrawal media that meets the requirement of the Bank without limiting the Bank’s right to refuse withdrawal from RDN, including but not limited to when the funds in the RDN are insufficient by observing the prevailing provisions/agreements.
      3. If the Customer wishes to take actions related to the RDN, including withdrawing its capital market investment proceeds from the RDN, the Customer agrees to firstly contact the Securities Company or the Custodian Bank (as relevant) which is authorised to administer its funds in the RDN and if it is approved by the Securities Company or the Custodian Bank (as relevant), then the Securities Company or the Custodian Bank (as relevant) shall withdraw the investment proceeds to the Customer.
    6. Evidentiary Matters
      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:

      1. he/she authorises the Bank to debit the RDN in the event that the Bank is obliged to make a debit to correct the error;
      2. the Customer waives the rights to claim or seek compensation to the Bank or its officers for any errors corrected by the Bank within a reasonable period after the Bank becomes aware of it; and
      3. the results or consequences arising from the Bank's actions in correcting the error of the RDN shall be valid and binding to the Customer and the Bank as a valid and perfect evidence.
    7. Responsibilities
      1. The Customer agrees to bear any risks, losses or consequences suffered by the Customer that are caused by among other things:
        1. negligence and/or error of the Customer;
        2. misunderstandings, damages, delays, loss or error in the delivery of instruction and communications, either by post, telephone, telegram, telex or facsimile or any other communication system;
        3. limited use or unavailability of funds in RDN or funds unpaid, restrictions on exchange/on using foreign currency, unavailability of foreign currency transacted, or other causes beyond the power of the Bank; and
        4. RDN reports or Bank’s notifications sent to the Customer were accepted or read or misused by a party who is not authorised of the RDN.
      2. The Customer agrees to bear all risks, losses and/or consequences suffered by the Customer in connection with the inaccuracy, invalidity, incompletion of documents filled or other aspects of the documents received by the Bank from the Customer through the Securities Company or the Custodian Bank, as well as if the document states the right of ownership of the goods contained in the document. The Bank shall not be liable to any parties issuing or endorsing of such documents, including but not limited to the authenticity, validity or correctness of the authority and signatures and information/data contained in such documents.
      3. In the event that the RDN transaction is conducted by a Securities Company or Custodian Bank based on power of attorney from the Customer to a Securities Company or Custodian Bank, through any banking services including electronic banking services, then the Customer agrees to release the Bank from all possible risks arising from the use of such banking services.
      4. In the event that the transactions on RDN is conducted through electronic banking services, the Customer agrees that the Bank shall not be liable for any form of loss suffered by the Customer due to the use of electronic banking services, including but not limited to losses due to negligence/error of the Customers or the proxy (including Securities Companies or Custodian Banks) or losses arising from the use or intervention of the use of electronic banking services by other unauthorised parties, delays or system maintenance or any other conditions which are beyond the power of the Bank including Force Majeure, the use of electronic banking services departing from the requirements and provisions of procedure as determined by the Bank.
      5. The Customer hereby agrees and warrants that the Customer shall use RDN for transactions which do not contradict with the provisions of the prevailing laws and regulations and/or internal policies of the Bank and/or other prevailing national and international regulations relating to the execution of such transactions either directly or indirectly.
      6. The Customer is hereby responsible for any claim and/or demand and consequence arising from the use of RDN by the Customer for transactions categorised as suspicious transactions and/or prohibited transactions by the provisions of the prevailing laws and regulations.
    8. Account Closure and Blocking of Customer Fund Account (RDN)
      1. Closing of RDN does not exempt the Customer from fulfilling the outstanding obligations, including but not limited to an overdraft (debit balance) on RDN (if any) and the Bank is still entitled to collect/receive payment from the Customer for the outstanding amount by the Customer along with interests, penalties and/or other fees charged to them (if any).
      2. If after closing the RDN there are still funds remaining in the RDN, the remaining funds in the closed account (if any) shall remain the property of the Customer and the Bank will credit the funds to another account on behalf of the Customer at the Bank or the escrow account (in the case the Customer does not have an account other than RDN at the Bank), after deducting RDN closing charges and other costs related to the RDN and payment obligations that have not been fulfilled by the Customer (including overdraft) to the Bank.
      3. The Customer and/or the beneficiary and/or the legal successor of his/her rights releases the Bank from all its responsibilities regarding the closing of the RDN.
      4. The remaining funds contained in the escrow account as referred to in Article 49.8 (b) above that have not been or are not withdrawn by the Customer are not entitled to any interests or giro service or compensation, and the Bank has the right to charge administrative fee of the remaining funds in that escrow account. If the Customer does not make a withdrawal or does not provide any instruction to the Bank for the funds from the closed RDN, then the Bank has the right to take action(s) as regulated in the prevailing laws and regulations.
      5. eThe Bank has the right to block RDN on the basis of:
        1. Customer's request through a Securities Company or Custodian Bank (as relevant) by attaching a letter requesting the blocking or closing from the Customer.
        2. Request from Securities Company or Custodian Bank (as relevant);
        3. An order from a competent authority in accordance with the prevailing laws and regulations.

  50. CREDIT CARD
    1. The Bank has the full right to determine the limit provided to Credit Card holders. The Bank's willingness to provide the credit limit to the Card Holder may:
      1. be canceled automatically by the Bank if the condition of the Credit Card holder decreases to be substandard, doubtful or bad in accordance with Bank Indonesia regulations.
      2. unconditionally cancelled at any time by the Bank in accordance with the sole consideration of the Bank.
    2. The validity of the Credit Card shall expire on the last day of the month and year as stated on the Credit Card, except upon cancellation by the Bank or a request from the Credit Card holder to close the Credit Card prior to its expiry date.
    3. The Bank has the right to cooperate with third parties for the invoicing.
    4. The Bank shall not be liable for any dispute arising in relation to the purchase of goods and/or services by the Credit Card holder. Such disputes shall be internally resolved by the credit card holder and the Business Partner/Merchant/Store and such dispute shall not cause delay on the payment of the Credit Card bills to the Bank.
    5. The full terms of the Credit Card can be viewed and downloaded at www.ocbcnisp.com ("Credit Card Terms and Conditions"). The Credit Card Terms and Conditions constitute one and inseparable part of these terms and conditions.
    6. The Customer agrees to comply with and bound by the Credit Card Terms and Conditions.

  51. MUTUAL FUND PRODUCTS
    1. To carry out Mutual Fund transactions, the Customer must have an account in the Bank in the same currency as the product currency of the mutual fund invested.
    2. Before deciding to invest in a Mutual Fund, the Customer must read and understand the contents of the Prospectus concerned, especially in relation to the policy and risks of investing the Mutual Funds, so that all investment decisions made by the Customer are entirely the Customer’s independent responsibility and the Customer accepts all risks arising as a result of the Mutual Fund investment.
    3. The Customer understands that the more clear and detailed information regarding the Purchase/ Redemption of Mutual Fund Participation Unit will refer to the prospectus of the corresponding Mutual Fund product.
    4. Mutual fund participation Unit Price is determined based on the respective value of the securities therein.
    5. Investment returns (if any) may be reinvested or paid in cash, based on the provisions of each Mutual Fund listed in the prospectus.
    6. Protected mutual fund is a type of Mutual Fund with protection on investment principal or initial investment value that is entirely done through investment mechanism and not through a guarantee mechanism by the Investment Manager or other third party. Accordingly, the risks of the underlying securities of the protected Mutual Fund may result in the holder of the Mutual Fund Participating unit will receive the investment return which is smaller than the initial investment value at the time of repayment (maturity date).
    7. The party that will issue a Mutual Fund Transaction Confirmation Letter and Periodic Report relating to the Customer transaction is the Custodian Bank.
    8. Investment Managers have the full right to determine investment strategies, including but not limited to method of purchasing the underlying asset of the Mutual Fund in accordance with the prospectus of each of the Mutual Fund. Accordingly, the Customer is required to read and understand the investment strategy of the Investment Manager, including its changes (if any).
    9. All correspondence relating to Customer's investment in the Mutual Fund will be addressed to the Customer.
    10. Customers can conduct Mutual Fund transactions through branches, internet banking, ONe Mobile and telephone (phone orders).
    11. Purchase of Mutual Fund Participation Units (Subscriptions).
      1. On an Exchange Day, if the Instruction to purchase a Participation Unit (Subscription) is received by the Bank until 13:00 WIB, the price of one Participation Unit is the same as the Net Asset Value per Participation Unit at the closing of the relevant Exchange Day. For Instructions to purchase a Participation Unit (Subscription) received after 13.00 WIB, the price of the Participation Unit used is the Net Asset Value per Participation Unit at the closing of the next Exchange Day;
      2. The Customer is required to provide funds in the Account for the purchase of Mutual Fund investment products and for costs related to the Purchase (if any), as determined by the Bank and referred to the prospectus and will be informed to the Customer. The Bank is not responsible for losses arising from the cancellation of the purchase due to the unavailability of sufficient funds in the Customer Account; and
      3. specifically, for Protected Mutual Funds, Customer who have booked or booked during the offer period are not allowed for any reason to cancel.
    12. Transfer of Mutual Fund Participation Unit (Switching).
      1. Transfer of Mutual Fund Participation Units can only be made to other Mutual Fund products managed by the same Investment Manager as regulated in the prospectus of the Mutual Fund concerned;b. The transfer of Mutual Fund Participation Units will be processed by a disbursement from the original product to subsequently place the funds from the disbursement to the destination Mutual Fund product;
      2. On Exchange Day, if the instruction for transferring of Mutual Fund Participation (Switching) Unit has been received by the Bank up to 13.00 WIB, the price of one Participation Unit is the same as the Net Asset Value per Participation Unit at the closing of the relevant Exchange Day. For instructions for transferring Mutual Fund Participation Unit (Switching) received after 13.00 WIB, the price per Participation Unit used is the Net Asset Value per Participation Unit at the end of the following Exchange Day; and
      3. The Customer is required to provide a sufficient amount of funds for the Participation Unit Transfer and other costs incurred (if any) in the Customer's Account. The amount of the Participation Unit Transfer fee is determined by the Bank and shall refer to the prospectus and will be informed to the Customer. The Bank is not responsible for losses arising from the cancellation
    13. Redemption of Mutual Fund Participation Unit.
      1. Each Customer can resell the Participation Unit in accordance with the terms and conditions stated in the prospectus. Customers can send Mutual Fund Participation Unit (Redemption) sales Instructions to the Bank;
      2. The Resell Instruction must obtain approval of the Investment Manager. The Resale Price will be determined based on the Net Asset Value per Participation Unit that is valid on the Exchange Day when the Resale Instruction is approved by the Investment Manager;
      3. On Exchange Day, if the Redemption Instructions received by the Bank up to 13.00 WIB, the Resale Unit Price is the same as the Net Asset Value per Participation Unit at the end of the Exchange Day. Whereas for the Redemption Instruction received by the Bank after the deadline at 13.00 WIB, the resale price per Participation Unit is the same as the Net Asset Value per Participation Unit at the end of the following Exchange Day;
      4. If all of the requirements of the Resale of Mutual Fund Participation Unit have been fulfilled and the Resale funds have been received by the Bank from the Custodian Bank, then the results of the Mutual Fund Participation Unit Resale will be paid by the Bank to the Customer; and
      5. Each Resale of Mutual Fund Participation Unit is subject to a Resale fee (if any) in the amount as determined by the Bank and referred to the prospectus and will be informed to the Customer. The amount of the fee for the Resale (if any) is informed by the Bank when the Customer will Resale the Mutual Fund Participation Unit and will be debited from the Proceeds of the Resale.
    14. Special Provisions for the Futures Mutual Fund Unit.
      1. The Futures Mutual Fund Customer, is aware and agree that the Bank has the authority to:
        1. Periodically debiting each month from the Account to purchase Participation Units in accordance with the type of Mutual Fund product and for the period agreed and requested by the Customer.
        2. The amount to be debited from the Customer's relation account is the nominal value of the purchase of the Futures Mutual Fund that has been instructed by the Customer along with the costs arising from the transaction.
        3. Carry out automatic disbursement on the maturity date of the investment without instructions from the Customer, if the Customer chooses an ‘Auto Redemption’.
        4. If before the end of the investment period the funds in the Account are insufficient, the automatic debiting will cease and when the Customer redeem the investment, the Bank will disburse all Participation Units owned by the Customer after deducting costs arising from the disbursement.
        5. Insurance protection for Mutual Funds will be regulated in a separate applicable document.
      2. If the Customer gives an instruction "Not Disbursed" on the due date, the Customer is required to disburse his/her Participation Unit.
    15. Authorisation from Client to the Investment Manager. Specifically for Mutual Funds products that have periodic investment sharing features, the Customer hereby authorises the Investment Manager to periodically, according to the specifications of each Mutual Fund product invested by the Customer, to Resell the Mutual Fund Participation Unit (Redemption) owned by the Customer at the same time (simultaneously) in the amount of the investment proceeds to be distributed (if any).
    16. The Customer agrees and accepts that the Investment Manager has the right and authority to accept or reject applications for the Purchase/Transfer/Resale of the Investment Fund Participation Unit submitted by the Customer to the Investment Manager.
    17. The Bank in this case only acts as a selling agent and shall not be responsible for all risks, losses, and results and performance of the Mutual Fund investments and therefore the Customer hereby agrees to release the Bank from all demands, lawsuit, claims and any form of responsibilities.

  52. BONDS PRODUCT
    1. The Customer must (i) have a Single Investor Identification (SID) and securities account at a Custodian Bank; and (ii) providing instructions to the Bank for the purchase/ sale of bonds provided by the Bank.
    2. The purchase price or selling price by the Customer will be determined based on the price agreed by the Bank and the Customer.
    3. The Customer can carry out the purchase or sale of bonds from 08:30 WIB to 14:00 WIB or other hours as determined by the Bank and notified to the Customer.
    4. In regards to government bonds, the Customer can take part in auction activities to purchase bonds in a secondary market according to the schedule and other provisions that are informed by the Bank
    5. Customer Funds that will be used to settle bond purchase transactions (either by auction or non-auction) must be in the amount adequately as in the Account and are available at all times during the auction placement order (in good funds), and free from any collateral.
    6. The Customers can buy or sell bonds in accordance with the terms and conditions listed in the Bond Product Terms and Conditions.
    7. In regards to corporate bonds (i) the Customer agrees and accepts that the Bank has the right and authority to accept or reject the purchase/sale of bonds submitted by the Customer by submitting the reasons for the rejection to the Customer, and (ii) the Customer agrees and is willing to hold the bonds series purchased by the Customer until the maturity date of the corporate bonds.
    8. For sales of bonds transactions (i) the Customer is required to fulfil the sales requirements in accordance with the conditions specified in the product feature document or other documents issued by the bond issuer or other conditions as determined by the Bank, (ii) the price of the sales of bond by the Customer will be determined based on the price as agreed to by the Bank and the Customer, and (iii) costs incurred including tax costs from the sale of bonds will be deducted from the proceeds of the sale.
    9. Proceeds from the sale of bonds shall be credited to the Account after the funds are received by the Bank from the Custodian Bank.
    10. If there are fees charged in connection with the sale of bonds by the Customer, then the fee shall be debited from the sale.
    11. The Customer is responsible and obliged to pay any costs incurred in connection with the services received by the Customer from the Bank.
    12. The Customer provides consent and authority to the Bank to open an account on behalf of the Customer at the Custodian Bank, and any other parties as determined by the Bank in connection with the bond transaction made by the Customer.
    13. The Bank has the authority to appoint other parties as agents to carry out instructions on behalf of the Bank/Customer and can delegate its authority to that party according to the Terms and Conditions. The Bank shall continue to be responsible for errors, omissions or defaults that are clearly intentional by the designated party.
    14. The Bank is not obliged to inspect or verify the validity of ownership or rights to a bond and is not responsible for any defects or errors in the ownership of the bonds.

  53. FOREIGN EXCHANGE TRANSACTIONS
    1. The Customer acknowledges and understands that a foreign exchange transaction is a sale and purchase transaction of a currency against another currency(ies) between the Bank and the Customer on the Currency Date using the exchange rates applicable to the Bank including FX Leave Order, FX Non Today and Extended FMCT Forward.
    2. The Customer binds themselves to foreign exchange transactions as referred to in Article 53.1 above with the aim of managing their loans or investments, hedging their assets or obligations in connection with their business activities or for these purposes and not for speculative purposes.
    3. The Customer agrees to observe Article 44 for conducting foreign exchange transactions that require a Cash Margin.
    4. Events of Default. The Bank has the right to take actions as described in Article 53.5, in the event of one or more of the following events:
      1. the Customer passed away/dissolved/is made dissolved, including if the Customer has filed for bankruptcy or is under guardianship;
      2. the Customer is unable or fails (a) in providing or sending funds in the amount specified in the Transaction Confirmation or (b) to pay the Customer's payment(s) obligations for any of the Customer's foreign exchange transactions;
      3. The Customer fails to fulfill their obligations in any form whatsoever based on the Transaction Confirmation.
      4. According to the Bank's assessment, the Customer cannot complete their obligations that were arising based on the Transaction Confirmation;(v) Data, representations or warranties provided by the Customer to the Bank are found to be untrue;
      5. The Customer is included in the Local Black List or has non-performing credits according to Bank Indonesia or banking authorities in Indonesia;
      6. In the event of changes in the government policies and/or banking authorities, the economic situation, monetary turmoil and the emergence of domestic and foreign financial situations or other matters that shall have impacts on the Customer's Foreign Exchange Transactions.
    5. Close Out and Set Off. In the event of the situation referred to in Article 54.4 above, the Bank has the right to cancel or make the following Close Out and Set Off:
      1. The Bank has the right to immediately terminate a foreign exchange transaction by completing the existing obligations on the date as set out by the Bank ("Early Termination Date"). The Bank has the right in good faith to set out the exchange rates and/or interest rates (applicable in the market) that are used for the process of terminating the foreign exchange transactions;
      2. In the event that the Bank performs the action as set out in paragraph (i) above, the Bank in good faith will provide information to the Customer regarding the results of the calculation including the remaining obligations that must be immediately paid by the Customer;
      3. The Bank has the right to charge the Customer all costs, fees, losses and damages (if any) including full legal costs and any costs incurred by the Bank in connection with the action as listed in paragraph (i) above;
      4. In the event that the Customer's obligations are still outstanding and have not been paid to the Bank, the Bank has the right to withhold or reject (i) all foreign exchange transaction instructions and/or (ii) all payment Instructions either in whole or in part to the Customer's account at the Bank.
    6. For every settlement of foreign exchange transaction, the Customer shall submit and pay foreign exchange or Rupiah to the Bank in accordance with the provisions and Date of Currency as stated in the Transaction Confirmation/other similar media used in foreign exchange transactions that have been approved by the Bank. Such Confirmation of Transactions/other media are integral parts of these Terms and Conditions.
    7. The Settlement of Customer’s foreign exchange transactions must be done in Full Movement Transaction.
    8. Special Terms and Conditions Regarding FX Leave Order. In the event that the Customer makes an FX Leave Order transaction:
      1. The Customer acknowledges and understands that the FX Leave Order transaction is a foreign exchange sale and purchase transaction conducted by the Customer and 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.
      2. Customer Funds that will be used to complete the FX Leave Order transactions must be in a sufficient amount in the Account and are always available at all times of placing the order (in good funds), and shall be free from any collateral.
      3. Regarding the FX Leave Order with the Good-Til-Cancel facility, the Customer or his/her proxy or his/her agent hereby grants authorisation and authority to the Bank to carry out the automatic roll-over in accordance with the deadline as determined by the Customer or his/her proxy or agent for every FX Leave Order transaction placed at the Bank by considering the provisions as set out in these Terms and Conditions, up to the time limit allowed by the Bank, which is a maximum of 7 (seven) Business Days since the FX Leave Order is placed; and
      4. The Customer must complete the following FX Leave Order transaction:
        1. on the same day if the Customer's order is executed, it will be conducted by a Direct Settlement.
        2. with Today's currency up to 3 (three) months Forward if the Customer's order related to the executed Extended FMCT Forward or FX Non-Today transaction, by visiting the nearest branch office of the Bank.
      5. the Customer can cancel the FX Overnight Leave Order transaction that has not been executed by sending Instruction to the Bank no later than 16:00 WIB on the relevant Business Day. However, the Customer is not permitted to cancel any FX Leave Order Transaction that has been executed by the Bank (done).
      6. The Bank has the right to determine the minimum or maximum placement of the FX Leave Order and the amount of the Customer's Spread exchange rate order with the Bank and can make changes at any time without prior notice.
      7. The Customer hereby understands and agrees that the FX Leave Order transaction is deemed to have occurred as of the issuance of the FX Leave Order to sell and/or buy instruction, regardless of whether the Instruction is executed or not, and the transaction is valid and binding between the Bank and the Customer and cannot be canceled for any reason whatsoever. In the event that an FX Leave Order has not been executed, the Customer can provide an instruction to revoke/cancel the transaction, and the Bank will use its best effort to revoke the Instruction for placing the FX Leave Order if possible.
      8. The Customer hereby acknowledges and agrees that the Bank Order Rate used as a reference will follow the market price as determined by the Bank on a best effort basis.
      9. The Customer hereby understands and agrees that under certain conditions where the foreign exchange market fluctuates dramatically beyond the placement price of the FX Leave Order, the price used is the best price that is closest to the placement price of the FX Leave Order on the market that is used by the Bank.
      10. The Customer shall ensure sufficient funds (in good funds) at the Bank that will be used to complete every executed FX Leave Order Transaction. If the customer's funds are insufficient at the time of each completion of the FX Leave Order transaction for the order that is executed, then the Bank has the right to cancel the FX Leave Order transaction that has been instructed by the Customer. The cancellation of the FX Leave Order Transaction due to the above reasons is fully realised by the Customer and he/she hereby releases the Bank from all responsibilities, claims risks, and any lawsuit/demand that will arise in the future from anyone. In the event that there are costs incurred due to the cancellation of the FX Leave Order transaction due to the insufficient funds, the Customer hereby authorises the Bank to debit the costs incurred from the Account.
    9. Special Terms and Conditions Regarding Extended FMCT Forward. In the event that the Customer makes an Extended FMCT Forward transaction:
      1. The Customer acknowledges and understands that (i) the Extended FMCT Forward transactions are only allowed for foreign exchange transactions (not allowed for Rupiah), and (ii) the Extended FMCT Forward transactions are foreign exchange transactions for which the transaction period can be extended on the due date if the Customer wants to keep the short position open.
      2. The Customer agrees to pay attention to Article 44 for the Extended FMCT Forward transactions and additional Cash Margin ("Top Up").
      3. For every Extended FMCT Forward transaction, the Customer has the right to extend the Extended FMCT Forward position provided that each extension can only be made to the SPOT position or up to Forward 3 (three) months, as long as the extension is still within the period of 1 (one) year after the relevant Extended FMCT Forward transaction was initiated with the Bank.
      4. The open foreign exchange transaction positions that are due can be rolled over to Spot positions for up to Forward 3 (three) months for a maximum of 4 (four) times roll over.
      5. The open foreign exchange transaction positions that are due but not closed by the Customer until the transaction deadline of the day at 15:30, will be automatically rolled over by the Bank to the 3 (three) months Forward currency position by conducting a Swap Buy Sell or Swap Sell Buy foreign exchange transaction in the amount of the open positions that are due.
      6. the Customer agrees that the settlement of the Extended FMCT Forward is carried out by settling the transaction by netting.
      7. Withdrawal of funds in the Account after the Customer closes the position of the Extended FMCT Forward transaction can only be done within one working day (T + 1) after receipt of the written instructions of the Customer by the Bank.

  54. STRUCTURED PRODUCT
    1. In relation to the placement of Structured Products with the principal type of unprotected placement (principal non-protected deposit), the Bank will give the Customer time (the cooling off period) to study the offers and documents submitted by the Bank to the Customer for a period of 3 (three) Business Days after the Customer receives the offer documents. The cooling off period only applies to Customers who have never placed a Structured Product with a principal non-protected deposit before.
    2. The Customer acknowledges and understands the risks that may arise from the placement of the Customer’s Structured Product, including the following risks:
      1. Risk of Structured Product features that only receive 100% (one hundred percent) of the principal of the placement plus the minimum interest or risk of the Structured Product features which payments are made in the Alternate Currency that are likely to be less than those placed in the Base Currency (as relevant).
      2. Market Risk namely that the rate of return of this Structured Product is highly dependent on the movement and performance of the exchange rates of the related currency pairs and/or the interest rates or other underlying assets during the observation period on the American Style Structured Product or only on the determination date and time on the European Style Structured Product, so that there is a possibility that the Customer may not get a maximum rate of return on the placement of the Structured Product.
      3. Risks caused by changes in Government regulations and/or policies.
      4. The risk that the Government of the Republic of Indonesia does not guarantee this Structured Product.
    3. The Customer is required to have an Account in the same currency as the Base Currency for the purpose of each Structured Product placement at the Bank and must provide sufficient funds in the Account in the Base Currency, in the amount of the principal placements on each Structured Product placement as instructed by the Customer or his/her proxy or agent to the Bank.
    4. The Customer agrees that the Bank has the right (i) to determine the Base Currency and the minimum and maximum amount of Structured Product placements from time to time, and (ii) to accept or reject the request for Structured Product placement by the Customer at the Bank, including the cancellation of the placement of the Structured Product by the Bank if the minimum placement amount is not reached at each bid period (Book Building).
    5. During the Book Building period, the Customer authorises the Bank to block the Source of Fund Account for the purchase and/or placement of the Structured Product and on the Placement Date debits the source of fund and/or placement Account in the amount of the principal placement of the Customer’s Structured Product.
    6. For some Structured Product placements, the Customer agrees that:
      1. The Customer is required to choose a) Currency Pair provided by the Bank; b) Base Currency and Placement Principal; c) Buffer Value and Strike Price; and d) Period of Placement of the concerned Structured Product; or
      2. Customer must choose a) Structured Product Currency and Placement Principal; b) Contra Currency and c) Period of Placement of the relevant Structured Product; or
      3. the Bank shall determine whether or not a Bonus is earned by the Customer on the Maturity Date;
    7. On the Maturity Date, the Bank shall credit the Placement Principal along with the results of the placement of the Structured Product to the Account, in accordance with the terms and conditions stipulated in the Confirmation Letter of the Result of Structured Product Placement.
      1. The results of a development of the Structured Product are calculated after deducting income tax (PPh) in accordance with applicable taxation regulations in Indonesia and paid to the Customer on Maturity Date.
      2. If the Maturity Date falls on a day that is not a Business Day, the Bank shall pay the Structured Product placement amount and the Structured Product Interest Rate on the next Business Day. There is no additional payment of interest between the Maturity Date until the next Business Day where the payment for the number of Structured Product placements and the Structured Product interest rates is made.
    8. Structured Products that are traded by the Customer at the Bank are investment products that cannot be withdrawn, either in part or in full before the Maturity Date. If the Customer wishes to withdraw the placement of the Structured Product before the Maturity Date (early termination), then:
      1. The Customer or the proxy or agent must provide an early termination Instruction to the Bank through electronic mail, facsimile or telephone;
      2. the Customer will be charged a penalty or break funding fee in regards to early termination;
      3. The Customer will not receive interests for the current period from the placement of the Structured Product that has been withdrawn before its Maturity Date;
      4. The Bank will calculate the Customer’s Structured Product value plus the cost(s) as referred to in point (ii) above which will be charged to the Customer due to the early termination;
      5. The Bank does not guarantee a 100% (one hundred percent) return on the principal of the Customer placement related to the Structured Product which type is principal protected.
      6. The Customer is subject to the mechanism and period of early termination as stipulated in detail in the Structured Product system and procedures applicable at the Bank.

  55. FUTURES CONTRACTS
    55.1

    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. .

    55.2

    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.

    55.3

    Obligation to Maintain Initial Margin and Additional Margin (Call Margin)

    1. As long as the Customer carries out a Futures Contract transaction with the Bank, the Customer shall ensure from time to time that the Initial Margin is still within the minimum value threshold in accordance with the Maintenance Margin as stipulated by the Bank to the Customer.
    2. If due to the Mark to Market or other matters, the Initial Margin given by the customer is reduced in value or under the value of the Maintenance Margin as stipulated by the Bank, then the customer must provide additional cash (margin) to restore the Initial Margin value to become 100% according to the Bank's request within the deadline as set out by the bank.
    3. In the event the Customer does not fulfill the obligation to increase the Initial Margin, then the Futures Exchange through the Bank reserves the right at any time, without prior notice to the Customer to terminate the Futures Contract transaction or to liquidate the Futures Contract transaction.

    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.

    55.4

    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.

    55.5

    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:

    1. The Customer passed away/dissolved/made dissolved, including if the Customer has filed or is declared bankrupt or is under guardianship;
    2. The Customer fails or is in default (a) in providing or sending funds in the amount specified in the Transaction Confirmation or (b) to pay the Customer's payment liability (ies) for every foreign exchange transaction of the Customer;
    3. The Customer fails to fulfill its obligations in any form whatsoever based on the Transaction Confirmation.
    4. According to the Bank's assessment, the Customer cannot resolve the obligations arising under the Transaction Confirmation;
    5. Data, representations or warranties provided by the Customer to the Bank are known to be incorrect;
    6. The Customer is included in the Local Blacklist or has a problematic credit according to Bank Indonesia or the Indonesian banking authority;
    7. In the event of any changes in the government and/or banking authorities’ policies, economic situation, monetary turmoil as well as the occurrence of domestic or international financial situations or other matters that are affecting the Foreign Exchange Transactions of the Customer.
    55.6

    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:

    1. The Bank reserves the right to immediately terminate the Futures Contract transaction by completing the existing obligations on the date as set out by the Bank (the "Early Termination Date"). The Bank reserves the right to set out the prices and/or valuations (which are applicable in the market) in good faith that are used for the termination process of the Futures Contract transaction.
    2. In the event that the Bank performs the action as stated in the paragraph (i) above, the Bank in good faith will provide information to the Customer regarding the calculation result including the remaining liabilities that shall be immediately paid by the Customer.
    3. The Bank shall have the right to charge the Customer for all costs, expenses, losses and damages (if any) including the full legal costs and any costs incurred by the Bank in connection with the performance of such action as set out in paragraph (i) above.
    4. In the event the Customer's obligations are still outstanding have not been repaid to the Bank, then the Bank shall have the right to withhold or refuse (i) all transaction instructions of the Customer in any form whatsoever and/or (ii) all payment instructions either wholly or partially towards the Customer's account at the Bank.

    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.


  56. BANKING SERVICES
    56.1

    Beyond Banking
    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.

    56.2

    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:

    1. Transaction instruction by facsimile and telephone must be made by a fax number and/or Customer's telephone number registered with the Bank.
    2. To carry out any instruction as referred to in article 56.2 (i) above with a certain nominal value in accordance with the prevailing Bank’s policy, the bank will confirm it with the Customer beforehand.
    3. For transactions By Email
      1. The Customer can carry out transactions via email that are addressed to the email address of the designated Bank officer.
      2. The Bank will verify by telephone to the Customer's phone number that is registered with the Bank.
      3. If required by the Bank, the Customer agrees to complete, send and submit the original form/Instruction/copy of the transaction to the Bank.
      4. The Customer understands
    56.3

    Autopayment and Automatic Fund Transfer

    1. For every registration of bill(s) payment facility (telephone, electricity, mobile phone, credit card, insurance, etc.) by the Customer to the Bank, the Customer hereby authorises the Bank to carry out such bill(s) payment in accordance with the value of the bills that must be paid by the Customer. Such authorisation is valid continuously after the OCBC NISP Premier Banking Service Form has been signed and shall end at the time the Account is closed or when the authorisation is terminated by the Customer.
    2. Every Autopayment and Automatic Fund Transfer application submitted after the 15th day of the month will take effect on the following month.
    3. the Customer agrees to provide funds in the Customer's relation account that is registered for the Autopayment and Automatic Fund Transfer processes for the process of debiting routine transactions through the Autopayment and Automatic Fund Transfer facilities. Failure to debit the Autopayment and Automatic Fund Transfer because the funds in the Customer's account are insufficient, shall not be the responsibility of the Bank.
    4. The Bank is not responsible for late fines or termination of telephone/electricity/mobile phone/ credit card/insurance, or other risks as a result of not being able to pay bills or automatic transfers, due to the insufficient funds in the Account and/or the Bank has not received the value of bills to be paid and/or system/transmission failure of the payment of such bills by the Bank.
    5. For each bill payment and automatic transfer transaction, the Customer will be charged according to the applicable provisions of the Bank.
    6. the Customer agrees to immediately inform the Bank if there are changes relating to the facsimile number, telephone number and/or account for the routine debiting process of implementing the Autopayment and Automatic Fund Transfers.
    7. If the Customer intends to terminate the bill payment or automatic transfer facility, the Customer is required to notify the Bank in writing of the commencement date of such termination and submit it no later than 7 (seven) Business Days prior to the commencement of the period of payment of such facility.
    56.4

    Depository Management Services ("Trust")

    1. For compliance with banking regulations and prevailing laws and regulations in Indonesia, the Customer is aware of and agrees that the Bank has the right to advise the Customer to use the Depository Management Services ("Trust") at the Bank if the Customer wants to purchase products or services that are not provided by the Bank, or products or services that are not sold directly by the Bank.
    2. If the Customer agrees to use the Trust Service at the Bank, the Customer agrees to sign a Depositary Management Agreement in accordance with the Bank's format, and to fulfill all provisions and procedures applicable at the Bank.
    3. The Trust Service provided by the Bank is a Depository Management ("Trust") which is subject to the laws of the Republic of Indonesia as regulated in the Financial Services Authority Regulation No.27/POJK.03/2015 dated 11 December 2015 concerning Bank Business Activities in the Form of Depository Management (Trust), as amended lastly by the Financial Services Authority Regulation No.25/POJK.03/2016 dated 15 July 2016, together with their implementing regulations and future amendments.
    4. In the event that the Customer does not agree to use Trust Services at the Bank for the purpose of carrying out the purchase of products or services not provided by the Bank, or products or services not sold directly by the Bank, the Bank has the right to refuse the transaction.
    5. All terms and conditions regulated and agreed by the Customer and the Bank in the Depository Management Agreement will be binding and become an inseparable part of these Terms and Conditions. In the event of a conflict between the two, the Depository Management Agreement will prevail specifically for the products and services as specifically regulated and agreed upon in such agreement.
    56.5

    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.

    56.6

    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.


  57. INSEPARABILITY

    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.


  58. OBJECTIONS AND COMPLAINTS
    1. The Customer can submit objections and/or complaints to the Bank verbally or in writing.
    2. If the objection and/or complaint is made verbally, the Customer can contact Tanya OCBC NISP or other numbers as notified by the Bank from time to time.
    3. If the objection and/or complaint is made in writing, then such objection and/or complaint must be accompanied by a photocopy of the identity and other supporting documents as required by the Bank.
    4. The Customer can also file the objection and/or complaint through the Bank's website at www.ocbcnisp.com or come to the nearest branch of the Bank.
    5. In the event the Customer submits the objection and/or complaint verbally, the Bank will settle it in 5 (five) Business Days. However, if the verbal complaint or objection is not resolved within the time limit, the Bank will ask the Customer or his attorney-in-fact to submit the supporting documents.
    6. In the event that the Customer submits the objection and/or complaint in writing, the Bank will settle it no later than 20 (twenty) Business Days after the date of receipt of such written complaint.
    7. In the event of the following conditions, the Bank may extend the period to be no later than 20 (twenty) Business Days as of the period as specified in paragraph f above:
      • the branch office of the Bank that receives the disclaimer and/or complaint is not the same as the branch office of the Bank where the problem was reported and there is a communication problem between the two branch offices;
      • the objection and/or complaint submitted by the Customer requires a special/follow-up research or examination;
      • there are other matters that are beyond the Bank's control.
    8. In the event that the Customer rejects the response on the objection and/or complaint from the Bank, the Customer may elect the dispute settlement resolution through the court or outside the court.

  59. MISCELLANEOUS
    59.1

    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: whistleblowing@ocbcnisp.com.

    59.2

    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.

    59.3

    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.

    59.4

    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.

    59.5

    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.

    59.6

    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.

    59.7

    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.