Syariah

 

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

The Terms and Conditions of Sharia 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 Sharia Account ("Customer") in connection with all products and services available to the Customer.

  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:

    "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.

    “Sharia Contract” is a written agreement containing the ijab (offer) and qabul (acceptance) between the Bank and the Customer which contains the rights and obligations of each party in accordance with sharia principles.

    "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. Call OCBC NISP 1500999 (from Domestic) or + 62-21-26506300 (from overseas).

    “Biometric Data” refers to fingerprints, irises, body movements, height, and other visible characteristics of an individual.

    "Business Days" shall be a day other than Saturday, Sunday or official holiday, where the Bank is open for conducting its business activities (including foreign exchange transaction and foreign currency deposits) in the territory of the Republic of Indonesia.

    "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, Mobile Banking and other electronic media for of Sharia Account operations.

    "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.

    "Products" are banking products based on Sharia principles offered by the Bank from time to time to the Customer in accordance with the terms and conditions as determined by the Bank.

    "Sharia 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 based on Sharia Contract opened by the Customer at the Bank from time to time.

    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. SHARIA CONTRACT
    2.1

    Wadiah. Only applies to Customer who holds Sharia Accounts where the Customer deposits funds at the Bank and the Bank obliged to return the funds at any time.

    2.2

    Mudharabah Mutlaqah. Applies to Customers who holds Sharia Accounts where the Customer (shahibul maal) invests their funds to be managed by the Bank (mudharib) using the revenue sharing method based on the agreed ratio.


  3. SHARIA ACCOUNT OPENING
    3.1

    For the purposes of opening the Sharia 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, authorisation 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.

    3.2

    Specifically for opening the Sharia Account in Indonesian Rupiah (IDR) through the Bank's digital/electronic media/application, the prospective Customer agrees and/or authorizes the Bank as follows:

    1. to be registered by the Bank as ONe Wallet user under unregistered status on the phone number registered by the prospective Customer;
    2. in the event that the phone number registered by the prospective Customer is already registered as a OCBC NISP Electronic Money’s (ONe Wallet) account number, the prospective Customer will not be re-registered by the Bank as ONe Wallet user;
    3. to have the initial deposit funds transferred into the ONe Wallet as stated in letter a and b above as a media for holding funds; if within 60 (sixty) calendar days as of the account opening, the prospective Customer has not fulfilled the Know Your Customer process as set out by the Bank but has made the initial deposit;
    4. subject to the Banks’ General Terms and Conditions of e-Banking Services; and
    5. to have the account closed as it does not meet the requirements set by the Bank, namely because it does not complete the Know Your Customer process as stated in letter c above.
    3.3

    The Bank will inform the OCBC NISP Electronic Money’s (ONe Wallet) account number through a communication media that is deemed good by the Bank.

    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.

    3.4

    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, authorisation, 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, utilise 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.

    3.5

    The Customer states that he/she understands and agrees that for the purposes of opening Sharia 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.


  4. CANCELLATION OF SHARIA ACCOUNT OPENING APPLICATION

    except stipulated otherwise by the laws and regulations, the Customer agrees that the Bank can reject or cancel the application of Sharia 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.


  5. DEPOSIT INSURANCE
    5.1

    The Customer hereby acknowledges and agrees that in accordance with the prevailing provisions of the laws and regulations concerning the Indonesian Deposit Insurance Corporation (hereinafter referred to as "IDIC/LPS Rules and Regulations"), the deposits guaranteed by the Deposit Insurance Corporation are limited to deposits which include Current Accounts based on Wadiah Principles, Current Accounts based on Mudharabah Principles, Savings based on Mudharabah Mutlaqah Principles, Deposits based on Mudharabah Mudlaqah Principles and savings based on other Sharia Principles, determined by the Deposit Insurance Corporation after receiving consideration from the Banking Supervision Agency with the principal value of deposits and profit sharing with a maximum amount of Rp. 2,000,000,000,- (two billion rupiah) and with the provisions that the maximum applicable profit sharing ratio will be determined from time to time based on the IDIC Rules and Regulations.

    5.2

    The Customer understands and agrees that if the Customer's deposit which includes the principal value of the deposit and the profit-sharing ratio exceeds the maximum amount of the deposit guaranteed by the Deposit Insurance Corporation and/or if the Customer receives the effective deposit-sharing ratio from the Bank which exceeds the maximum level of the guaranteed profit-sharing ratio stipulated by the Deposit Insurance Corporation from time to time, the customer's deposits are not included in the deposit guarantee program by the Deposit Insurance Corporation.

    5.3

    The Customer acknowledges and understands that the value of the deposit guaranteed by the Deposit Insurance Corporation includes the balance on the date of revocation of the Bank's business license, where the balance in question is in the form of:

    1. capital (ra's al-mal) mudharabah madhmunah and profit sharing which has become the right of the Customer but has not been paid until the Bank's business license is revoked; and
    2. Wadiah principal (mablagh al-wadi'ah) and bonuses that have been paid to the Customer until the Bank's business license is revoked.
    5.4

    The Customer understands and agrees that a deposit insurance claim based on Sharia Principles is declared unfit to be paid if based on the results of reconciliation and/or verification:

    1. Customer Deposit Data is not recorded at the Bank;
    2. The depositing customer is the party who benefits unreasonably; and/or
    3. The depositor is the party that causes the condition of the Bank to be unhealthy.

  6. CUSTOMER INSTRUCTION
    6.1

    Instructions in connection with Sharia Account must be given by or on behalf of the Customer in accordance with the authority and mandate currently in force for the Sharia 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.

    6.2

    Instructions received by the Bank cannot be cancelled, withdrawn or changed unless the Bank approves them in writing or electronically or in other forms and/or methods.

    6.3

    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.

    6.4

    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.

    6.5

    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.

    6.6

    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.

    6.7

    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.

    6.8

    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.

  7. CANCELLATION AND TERMINATION OF PAYMENT OF THE CHEQUE/GIRO CHEQUE BY THE CUSTOMER
    7.1

    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.

    7.2

    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).


  8. SHARIA ACCOUNT STATEMENT

    The Bank will provide Sharia Account statement to the Customer every month or at a specified time as determined by the Bank. The Customer agrees to review the correctness of all details stipulated on the Sharia Account statement and to inform the Bank within 7 (seven) Calendar days since the date of the report if there is any discrepancy or loss of data, or error of the report. After the expiration of this period, the details in the Sharia Account statement are deemed correct except for error which has been informed by the Customer to the Bank. The Customer agrees that the Bank has the right to revise the error contained on the statement Sharia Account at any time.


  9. PROFIT SHARING
    9.1

    The Customer agrees that the profit-sharing ratio may change from time to time following the banking market conditions and the Bank's internal policies. In the event of change in the profit-sharing ratio, the Bank will provide prior notification to the Customer and the Customer is required to respond such notification. If the Customer does not respond to the notification submitted by the Bank, then the Customer hereby fully agrees to the change.

    9.2

    Revenue sharing received by the Customer will be subject to tax in the amount in accordance with the applicable tax provisions.


  10. FEES/COMMISSIONS
    10.1

    The Bank has the right to debit the Sharia 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 the Sharia Account(s) or others; or
    10.2

    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 Sharia Account(s) or if the Sharia 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 Sharia Account(s) within a period as determined by the Bank from time to time.

    10.3

    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.


  11. CONSENT TO PROVIDE INFORMATION
    11.1

    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.
    11.2

    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.


  12. DATA UPDATES
    12.1

    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.

    12.2

    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.


  13. DORMANT ACCOUNT
    13.1

    At the Bank's discretion, the Bank has the right to change the status of the Sharia 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.

    13.2

    As long as the Sharia 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 Sharia Account, including administrative costs for the dormant Sharia Account (b) payment profit sharing; (c) payment of tax on profit sharing; (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.

    13.3

    On the dormant Sharia Account, the Bank reserves the right to impose an administrative fee which will be charged to the Sharia 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.

    13.4

    To reactivate a dormant Sharia Account, the Customer must come to the nearest Bank branch to complete and sign the Sharia 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 Sharia Account must be done jointly by the Joint Account holders, while for the Joint Account "Or" the activation of the Sharia account can be done by one of the Joint Account holders.

    13.5

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

    13.6

    The Customer agrees that in the event that the Customer's dormant Account has a zero balance (Rp0), the Bank has the right to close the Account without prior notification to the Customer.


  14. ASSIGNMENT/ENCUMBRANCE OF SHARIA 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 Sharia Account either in part or entirely.


  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 Sharia 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 Sharia 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 Sharia 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 the Sharia 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 Sharia 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 the Sharia 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 Sharia Account and limit the Customer's right to withdraw from the Sharia 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 Sharia 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 Sharia 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 Sharia Account including debiting the Sharia Account and limiting the Customer's right to withdraw funds or freezing the Customer's activities of the Sharia Account (including other Sharia 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 Sharia 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 the suspected criminal action, unblocking and/or debiting of the Sharia Account to return funds to another Customer’s Sharia 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 Sharia 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 Sharia Account or the Joint Sharia 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 Sharia 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 Sharia 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 Sharia 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 the iB 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 iB 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) Sharia Account statements or the Bank notices sent to the Customer are accepted or read or misused by unauthorised parties to the Sharia 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 SHARIA ACCOUNT

    If the Customer is an individual Customer, the Bank only recognises 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 Sharia 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 Sharia 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 Joint 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 Joint 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. SHARIA ACCOUNT(S) ON BEHALF OF A COMPANY

    In the event that the Sharia 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 Sharia 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. iB TERM DEPOSIT
    22.1

    The Customer agrees that the Bank reserves the right to (i) refuse to accept iB 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 iB deposit, and (ii) refuse iB term deposits in Foreign Currency.

    22.2

    Each iB 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 iB term deposit. Proof of the iB term deposit will be validated in accordance with the applicable provisions and procedures by the officer of the Bank.

    22.3

    iB 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.

    22.4

    iB term deposits which are closed before the maturity period, then the profit-sharing received by the Customer is in accordance with the calculation of the profit-sharing ratio at the time of closing.


  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 Sharia Account will be debited immediately, and the Bank will withdraw the profit-sharing 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 Sharia Account, the credit is made conditionally and can be cancelled 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. he 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 Sharia 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

    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.

    24.4

    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.

    24.5

    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.

    24.6

    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.

    24.7

    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 SHARIA ACCOUNT
    25.1

    The Customer understands and agrees that the Customer will use the Sharia 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 Sharia 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 Sharia 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 fulfil 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 SHARIA 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 Sharia Account (hold amount) and/or debit the Sharia Account, if:

    1. there is a request from the Customer for the Bank to block the Customer’s Sharia 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 evidence 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 Sharia 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 Sharia 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. SHARIA ACCOUNT(S) CLOSURE
    28.1

    Sharia Accounts that are opened through the Bank's digital/electronic media/application:

    • The Bank has the right to close the Customer's Sharia Account if within 30 (thirty) calendar days as of the Sharia Account opening, the Customer has not fulfilled the Know Your Customer process as set out by the Bank and has not placed an initial deposit.
    • The Bank has the right to close the Customer's Sharia Account if within 60 (sixty) calendar days as of the Sharia Account opening, the Customer has not fulfilled the Know Your Customer process as set out by the Bank and has placed the initial deposit in accordance with Article 2.2 above.
    28.2

    If the Customer wants to close the Sharia Account(s), the Customer shall give a written instruction to the Bank and fulfil the procedures as determined by the Bank.

    28.3

    On the closing of the Sharia Account(s):

    1. Pursuant to Article 28.2 above the Bank may exempt all of its obligations in relation to the Sharia Account by paying the Customer in the currency according to the Customer's Sharia 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.
    28.4

    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 Sharia 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 Sharia 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 Sharia Account is used not in accordance with the purpose of the Sharia Account opening;
    8. (a) 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.
    28.5

    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 Sharia 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 Sharia Account, funds or Sharia 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 Sharia 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 Sharia 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 Sharia Account can be seen through the list of transactions of the Sharia 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 Sharia 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) address 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 Sharia Account as set out in these Terms and Conditions by:

    1. announcing such change in the Sharia 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.
    6. by considering to the prevailing laws and regulations.

    If the Customer continues to use the Sharia Account(s) after the notification, then the Customer is deemed to have agreed and accept the changes.

    For the purpose of termination of Sharia 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 events or causes beyond the authority or ability of the Bank including but not limited to natural disasters, fires, war, riots, civil unrest, non-functioning of equipment, systems or transmissions, electrical disturbances, telecommunication disruptions, government policies and/or agencies authority, failure in the application of new technology, as well as events or other causes beyond the power or ability of the Bank (Force Majeure).


  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 fulfil 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 fulfilment 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 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 collectability (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 Sharia 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 Sharia 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 cancelled 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 Sharia Account to pay for the renewal of the lease period.
      2. If the funds in the Customer's Sharia 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 Sharia Account in the amount of the renewal of the lease period and the Late Penalty in full.
      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 fulfil 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 Sharia 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 Sharia 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 Sharia 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 Sharia 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 Sharia 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 Sharia Account is sufficient and the Bank is given the power by the Customer to debit the Sharia 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. 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 Sharia Account opening is an integral and inseparable part of these Terms and Conditions.


  44. 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.

  45. MISCELLANEOUS
    45.1

    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.

    45.2

    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.

    45.3

    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.

    45.4

    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.

    45.5

    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.