Conditions of banking services for the Cardholders

 

1. GENERAL PROVISIONS

1.1. This Conditions of banking services of the Cardholders, hereinafter referred to as the “Conditions”, define the conditions of service payment cards by Public Joint-Stock Company OTP Bank, hereinafter referred to as the “Bank”, which are issued for Cardholder within the Agreement with the Cardholder.
In accordance with those Conditions the Bank and Cardholder shall be definite as Parties of the Agreement with the Cardholders.

1.2. By signing orderly completed Application of issue of the salary card, (hereinafter referred to as the “Application”), Client agrees that this Application together with Conditions, Card use rules,(hereinafter referred to as the “Rules”) and Tariffs,(hereinafter referred to as the “Tariffs”) make the Agreement with the Cardholder.

1.3. Definitions of the terms that are used in this Conditions are set forth in this Conditions and the Rules.

1.4. The procedure for use of the Card for payments shall be regulated by effective legislation of Ukraine, standards of the international Payment System, this Conditions, the Rules, as well as the Bank’s Tariffs.

2. RIGHTS AND OBLIGATIONS OF THE PARTIES

2.1. Obligations of the Bank:

2.1.1. The Bank shall open the Card Account for the Cardholder in a currency of Account and provide Payment and cash operations regard to Payment Transactions using the Card. The Bank provide servicing card accounts of holders by Debit scheme.

2.1.2. Within 7 (seven) Banking Days after receiving by Bank the signed Application, provided that the Cardholder meets the conditions specified in subparagraphs 2.3.1, 2.3.2 of these Conditions, signing the Application by Bank and provided that the Organization fulfills the requirements of the General Agreement related to delivering the Card and /or PIN-codes, the Bank shall deliver the Card to the Cardholder or an authorized person of the Organization. By agreement with the Bank, the Card and /or PIN-code may be delivered to the third person under a notarized authority, drawn on behalf of the Cardholder for the third person. In case of refusal to issue the Card, the Bank reserves the right not to comment on its decision. The card type and currency of account shall be appointed by Organization in accordance with the General Agreement. The term of validity of the Card shall be determined by the Rules.

2.1.3. Upon written application of the Cardholder, the Bank may issue Additional Payment Cards to the Authorized Persons of the Cardholder and to provide Payments and cash operations with regard to Payment Transactions using Additional Payment Cards.

2.1.3. The Bank shall:

  • Provide Payments and cash operations with regard to the Cardholder’s Payment Transactions using the Card, enter the funds transferred into the Cardholder’s Card Account, and Debit or Credit the Cardholder’s Card Account with the amounts of transactions using the Cards, and with the amounts of fees (commission) of the Bank in accordance with the valid Bank’s Tariffs;
  • Keep the Cardholder’s funds on the Card Account;
  • Allow the Cardholder an authorized Overdraft within the amount lacking on the Card Account of the Cardholder for payment of charged interest on a fixed-term and outstanding Overdraft (authorized and unauthorized), as well as applicable Bank’s commission for settlement service of the Cardholder’s Payment Transactions using the Card;
  • Furnish the Cardholder with Statement of Movement on the Card Account in the event provided for in Rules.

2.1.4. In case of an Overdraft (authorized or/and unauthorized) or receipt of a verbal or written notice from the Cardholder or the Cardholder’s Authorized Person notifying of loss (theft) of the Card or any unauthorized use of the Card by third persons, the Bank shall ensure discontinuation of settlements/payments using the Card, in accordance with the procedure provided for by the Rules.

Note: The Bank’s obligation as for discontinuation of payments/settlements using the Card as specified hereinabove shall be limited to the cases when Payment Transaction is effected with Authorization done in accordance with the Payment system regulations. The Cardholder shall bear full responsibility with regard to Payment Transactions performed within pre-authorization amounts after the Card Blocking by the Bank.

The exceptions are the cases when Cardholder or Organization in written form according to the order provided in Rules furnish to the Bank the application for placing the Card to the international Stop-List effective in the country in which the card was lost.

2.1.5. In the event of insurance of the Cardholder/s within 7 (seven) Banking Days from the date of payment the cost of insurance premiums, the Bank shall deliver the documents that confirm the fact of insurance of the Cardholder and Authorized Person of the Cardholder with the Insurer (insurance certificate (policy), information booklet) in accordance with the Insurer’s conditions, to the Cardholder through the authorized representative of the Organization.

2.1.6. To furnish these Conditions, Rules and Tariffs for familiarization at first Cardholder’s request while appealing to the Bank.

2.2. Rights of the Bank:

2.2.1. To receive fee for provision of Payments and cash operations for the Cardholder on a timely basis.

2.2.2. Should the Cardholder or the Cardholder’s Authorized Person violate the requirements of effective legislation of Ukraine or these Conditions, the Bank shall have the right to suspend settlements using Card and to invalidate the Cards until such violations or breaches have been rectified.

2.2.3. To change the Tariffs/Rules/Conditions subject to prior notification of the Cardholder of such changes in accordance with the procedure set forth in the Rules.

2.2.4. To set a Spending Limit in accordance with the procedure stipulated in the Rules.

2.2.5. Right off Card account Customers, open the Bank under this agreement, the amount erroneously transferred to the customer (for which Customer is an improper recipient) - if the client did not return the amount improperly for 3 (three) banking days from receipt relevant requirements of the Bank. Customer hereby confirms that the order cancellation order amount specified in p.2.2.6 it clear that the client and agree with him.

2.2.6. To debit the Cardholder’s Card Account (contractual debiting) with the amounts of the Bank’s fees (commission) in accordance with the Bank’s Tariffs, as well as Overdrafts (authorized or/and unauthorized) and charged interest on Overdraft (authorized and unauthorized), and other payments resulting from or arising out of use of the Card (hereinafter referred to as “Debt Obligations”). Should the amount of monetary funds on the Cardholder’s Card Account be not sufficient for discharge of the Debt Obligations, the Bank shall have the right to contractual debiting of the Cardholder’s Current Account with monetary funds.

2.2.6.1. By inclusion of paragraph 2.2.6. (with subparagraphs) in these Conditions, the Borrower gives the Bank the commission to effect contractual debiting of the Card and Current Accounts opened with the Bank. The Bank shall fulfill such commission subject to maturity of the Debt Obligations, from the date of maturity of the Debt Obligations and in the amount being equal to the amount of the Debt Obligations, which have fallen due.

2.2.7. Іn case of receiving the notice from the Organization concerning discontinuation of labour relations with the Cardholder, and not furnishing the Cardholder’s application for closing of Card account and not returning the Cardholder Payment card (s) to the Bank the Bank has the right to consider the Card to be Invalid and block the Card of Cardholder on the date of receiving such notice from the Organization.

Note: The Cardholder and the Bank agree that the Bank has the right and the Cardholder entitles the Bank to consider the Card invalid and block the Card of Cardholder in case of not furnishing the Cardholder’s application for Card account closing and not returning the Card (s) to the Bank on the date of termination of labor relations between the Cardholder and the Organization.

2.3. Obligations of the Cardholder:

2.3.1. For the purpose of opening of a Card Account, the Cardholder shall furnish the documents specified by effective legislation of Ukraine for opening of current accounts. The above mentioned documents of Cardholder can be furnished to the Bank by the authorized representative of the Organization.

2.3.2. Prior to issue of the Additional payment Card, the Cardholder shall:

  • acquaint each Authorized Person of the Cardholder with Conditions, Rules, and Tariffs.

Note: Fulfillment of the requirements set forth in paragraph 2.3.2 of these Conditions shall be requisite for issue of the Card to the Cardholder or the Cardholder’s Authorized Person.

2.3.3. The Cardholder shall exercise control over the use of the Card Account funds by the Cardholder’s Authorized Person and over adherence to the Spending Limit, in order to prevent indebtedness (authorized or/and unauthorized Overdraft), and shall control compliance with other terms and conditions of these Conditions, as well as other requirements of effective legislation of Ukraine and the Rules by the Cardholder’s Authorized Person.

2.3.4. Should the Bank allow the Cardholder an authorized Overdraft or in case of unauthorized Overdraft, the Cardholder shall be deemed having received such Overdraft and shall undertake to repay the Bank its amount on a timely basis and to pay any interest charged on such Overdraft.

2.3.5. The Cardholder shall pay:

  • the amounts of all transactions, Overdrafts (authorized and unauthorized), commission, interest charged on Overdraft (authorized and unauthorized), and other payments resulting from or arising out of the use of the Card, in accordance with the Bank’s Tariffs;
  • the amounts of the Bank’s losses arising out of the use of the Card in contravention of these Conditions and/or Rules;
  • the amounts of all transactions, Overdrafts (authorized and unauthorized), commission, interest charged on Overdraft (authorized and unauthorized), and other payments resulting from or arising out of the use of the Card after loss (theft) of the Card until the lapse from Cardholder verbal notification of the loss (theft) of the Card and the complete loss of blocking the card in the order of Regulation, except as provided in these Terms.

2.3.6. The Cardholder shall immediately notify the Bank of a loss, damage to, theft of or a possible unauthorized use of the Card by any third persons, in accordance with the procedure established by the Rules.

2.3.7. In case of considering the Card to be Invalid, the Cardholder or Organization shall ensure return of the Card to the Bank within 3 (three) calendar days from occurrence of relevant event.

2.3.8. The Cardholder shall not use an invalid, counterfeit or damaged Card.

2.3.9. The Cardholder shall receive at the Bank the Statements of the Card Account for each calendar month in accordance with the procedure stipulated in the Rules.

2.3.10. The Cardholder shall provide reliable information while filling in the Application, and shall notify the Bank in writing of any and all changes relating to the information stated in the Application, within 10 (ten) calendar days from occurrence of such changes.

2.3.11. At least 5 (five) Banking Days prior to termination of the Cardholder’s labor relations with the Organization (irrespective of whether on the Cardholder’s or the Organization’s initiative), the Cardholder shall furnish the application for closing of Card account and return the Card to the authorized representative of the Organization.

2.3.12. The Cardholder shall not use the Card Account for any transactions concerning of business purposes.

2.4. Rights of the Cardholder:

2.4.1. After signing of Application by the Bank, provided that the Cardholder meets the conditions specified in subparagraphs 2.3.1, 2.3.2 of these Conditions, and provided that the Organization fulfills the requirements of the General Agreement related to delivering the Card and /or PIN-codes the Cardholder shall receive the Card and use the Card for settlements/payments both in Ukraine and abroad.

2.4.2. To employ the Bank’s consultancy services on the issues regarding settlements/payments using the Card.

2.4.3. In case of any damage to, loss, theft or expiration of the Card, to receive a new Card at the Bank after having paid fee according to the valid Bank’s Tariffs.

2.4.4. Should any dispute arise, the Organization shall have the right to require the Bank to produce documents and/or written explanation that confirm accuracy of debiting the Cardholders’ Card Accounts with funds.

3. TERMS AND CONDITIONS OF SETTLEMENT SERVICES

3.1. Subject to receipt of the Registers and the funds from Organization during current Operational banking day the Bank shall ensure entering of funds to the Cardholders’ Card Accounts within current calendar day.

Subject to receipt abovementioned documents and/or funds after Operational banking day closing the Bank shall ensure entering of funds to the Cardholders’ Card Accounts not later than the next calendar day.

The Cardholder shall deposit funds in cash or shall transfer the funds into the Card Account from his/her Current Account in accordance with these Conditions/Rules and effective legislation of Ukraine.

3.2. The Cardholder shall commission the Bank, in accordance with the procedure provided for in these Conditions, to independently debit Card or/and Current Account with monetary funds to the amounts of any transactions using the Card, of any other payment obligations of the Cardholder to the Payment System or the Bank.

Note: Should the Currency of the Account be different from that of payment using the Card, the Bank shall debit the Card or/and Current Account with the funds required for reimbursement of the Bank’s expenses in the currency of payment, at the commercial exchange rate of the Bank, subject to compulsory payments.

3.3. The Bank shall resume provision of services for the Cardholder within 2 (two) Banking Days from settlement of the Cardholder’s indebtedness of the Card Account.

3.4. Should the Bank receive the Cardholder’s notification of loss (theft) of the Card or a possible unauthorized use of the Card by any third person, provided in accordance with the procedure stipulated in the Rules, the Bank shall, instantly however within the time period is technically necessary for action to halt settlements using Card(s) except technical failure of software, discontinue settlement service of the Card Account of the Cardholder.

3.5. In case of a Card Account Overdraft (authorized or unauthorized), the Cardholder shall commission the Bank to immediately suspend operation of the Cards and to block the Cards Authorization without any limitations and additional notification of the Cardholder. Such being the case, the Cardholder undertakes to reimburse the Bank for the amount of the Overdraft (authorized or unauthorized) and any interest charged on the amount of indebtedness in accordance with the valid Bank’s Tariffs of the Settlement cycle, in which it occurs, not later then the last workday of the next Settlement cycle.

4. LIABILITY OF THE PARTIES

4.1. The Parties shall bear property liability for failure to fulfill or improper fulfillment of their obligations under these Conditions, as well as for violation of the Rules. The Cardholder shall be directly liable for his/her acts or failure to act and for the acts or acts of omission of the Cardholder’s Authorized Persons when using the Cards, provided that such acts or acts of omission have inflicted losses on the Bank.

4.2. In case of an Overdraft (authorized or/and unauthorized) having taken place, the Cardholder shall pay the Bank the amount of debt and any interest charged thereon, for the whole period of existence of such indebtedness, at the rate calculated in accordance with the valid Bank’s Tariffs.

4.3. The Cardholder shall be held liable (shall assume obligation to fully indemnify the Bank for the expenses):

  • for any and all transactions carried out after a theft or loss of the Card and/or PIN-Code, till the lapse from the Cardholder’s or Confidant Cardholder verbal notification of the Bank of such loss (theft) of the Card and/or PIN-Code provided in accordance with the procedure established by the Rules and complete blocking of the card in the order of Regulation, unless otherwise provided for by these Conditions;
  • for any and all transactions which has been carried out without Authorization and this is not inconsistent with normative documents and regulations of the Payment Systems including cases, when the Cardholder, according to the procedure provided by the Rules, didn’t furnish the Bank the application in writing for adding the Card to STOP-List of the country, where the Card was lost or stolen;
  • for any and all Internet transactions carried out with card data e.g. card number, expire date and CVV2 and which could not be charging back via Payment System;
  • for all Transactions/Operations using the Card, which are recognized by the Bank as Fraudulent.

Note: Bank has a right do not assume obligation for the cases set in all subparagraphs of paragraph 4.3 above in it sole discretion.

4.4. Should the Cardholder fail to redeem the indebtedness and to pay the charged interest, the Bank shall have the right to seek for their repayment by the Cardholder in court. The Cardholder, and the Cardholder’s Authorized Person shall be held jointly liable for redemption of any indebtedness on the Card Account.

4.5. The Bank shall be liable for instantly, however within the time period is technically necessary for action to halt settlements using Card(s) except technical failure of software, for blocking of the Card from the Bank’s confirmation of receipt of the Cardholder’s verbal notification of loss/theft of the Card or/and PIN-Code, and for payment of all Payment Transactions having been Authorized after the lapse of the said period, provided that, when applying to the Bank, the Cardholder or the Cardholder’s Authorized Person has communicated the number of the lost/stolen Card or sufficient personal information required for unambiguous identification of the Card’s number by the Bank (first name, family name, Card type, password), and that the Bank has confirmed acceptance of such application. Removal of the Card from the Stop-List and Unblocking shall take place on the grounds of a written notification from the Cardholder.

5. BANK’S FEE, CHARGING AND PAYMENT OF INTEREST

5.1. The Cardholder shall pay the Bank fee under these Conditions at the rates in accordance with the valid Bank’s Tariffs.

5.2. Interest on balance of funds on the Cardholder’s Card Account shall be calculated in accordance with the valid Bank’s Tariffs for each calendar day of the funds’ being on the Card Account. The interest calculated as specified above shall be charged on the last Banking Day of the month and on the same day shall be entered to the Cardholder’s Card Account, less the amount of withheld tax on income of natural persons*.

5.3. In case of termination of the Agreement on the Cardholder’s or the Bank’s initiative, the interest on the Balance of Cardholder’s Card account shall be charge at a zero interest rate during 45 (forty five) calendar days from rendering of the Cardholder’s or the Bank’s notice/letter of termination of the Agreement with the Cardholder.

* suspended till 2013 (paragraph 22.1.4 of Article 22.1 of the Law of Ukraine “On taxation of incomes of natural persons dated May 22, 2003).

5.4. Interest on Overdraft (authorized or/and unauthorized) shall be charged on the last business day of the month on actual amount of authorized or/and unauthorized Overdraft and for actual period of use of such Overdraft during the whole calendar month, including the day of allowance and excluding the day of repayment of the said funds. Interest charged on Overdraft (authorized or/and unauthorized) shall be payable by the Cardholder in full amount not later then the last workday of the Settlement cycle, following Settlement cycle in which the Overdraft has taken place.

5.5. In case of any changes in the requirements of effective legislation of Ukraine, Payment System rules, condition of financial market or termination of labor relations between the Cardholder and the Organization (irrespective of whether on the Cardholder’s or the Organization’s initiative), the Bank shall have the right to change the Tariffs subject to notification of the Cardholder of such changes in accordance with the procedure stipulated in the Rules, unless otherwise provided for these Conditions.

5.6. Should the Cardholder disagree to new Tariffs, he/she shall have the right to cancel Agreement with the Cardholder by notifying the Bank of such decision in writing 10 (ten) calendar days prior to the date of cancellation of this Agreement.

5.7. If the Bank receives not objections from the Cardholder as stipulated in paragraph 5.5 hereof of this Conditions, prior to the effective date of new Tariffs, such new Tariffs shall be deemed accepted by the Cardholder from their effective date.

6. FORCE MAJEURE

6.1. The Parties shall be released from liability for non-fulfillment or improper fulfillment of any of their obligations under the Agreement with the Cardholder provided that such non-fulfillment results from force majeure circumstances. Such being the case, the term of fulfillment of obligations by the Parties shall be extended for the period during which force majeure circumstances may last. Agreement with the Cardholder shall be terminated at either Party’s request if the Parties are unable to fulfill any of their obligations under Agreement with the Cardholder for the period exceeding 3 (three) calendar months from the date of occurrence of force majeure circumstances.

6.2. Force majeure shall include circumstances of insuperable force that have arisen after conclusion of Agreement with the Cardholder, and which the Parties could neither foresee nor prevent by any reasonable actions or measures, specifically: war, hostilities, public disturbances, revolts, upheavals, acts of public authorities, natural disasters (hurricanes, floods, earthquakes, fire, etc.), if such circumstances result in objective impossibility for the Parties (Party) fulfil their (its) obligations under these Agreement with the Cardholder.

6.3. The Party affected by force majeure circumstances shall immediately notify the other Party of occurrence of such circumstances rendering proper fulfilment of the obligations under Agreement impossible. Such being the case, at the other Party’s request, such notification shall be confirmed by a document issued by the Chamber of Commerce and Industry of Ukraine. The Party having failed to meet the aforementioned requirement shall be deprived of the right to allege force majeure circumstances as a ground for being released from liability for non-fulfilment (improper fulfilment) of the obligations under Agreement with the Cardholder.

7. TERM OF VALIDITY, MODIFICATION AND TERMINATION OF THE AGREEMENT WITH THE CARDHOLDER

7.1. Signing of Application the Cardholder confirms that this Application together with Conditions, Card and Tariffs make the Agreement with the Cardholder. The Agreement with the Cardholder shall come into effect from the date of signing the Application by the Bank. The Agreement shall stand in force until occurrence of one of the events specified below:

  • decision taken by both or one of the Parties on termination of Agreement, and subject to proper fulfilment of other provisions of these Conditions by the Parties;
  • signing of a redrafted Agreement by the Parties.

Note: Notwithstanding the content of paragraph 7.1 (with subparagraphs) hereof, paragraph 7.1.3 of these Conditions shall stand in force until the Parties have fulfilled their obligations.

7.1.1. The Agreement with the Cardholder may be early terminated on the Cardholder’s initiative provided that the Cardholder has met the following requirements 60 (sixty) calendar days prior to the intended date of termination of the Agreement with the Cardholder:

(а) has sent a written application for termination of the Agreement with the Cardholder to the Bank’s address;
(b) has returned any Card/s that has/have not expired, to the Bank;
(c) has fully discharged/repaid any and all Debt Obligations. Note: The Bank may, at its own discretion, waive and dispense the Cardholder from fulfilment of the requirements set forth in subparagraph (b) or/and subparagraph (c) of paragraph 7.1.1 hereof.

7.1.2. Should the Cardholder fail to discharge its Debt Obligations during the period exceeding 30 (thirty) calendar days, the Bank shall have the right to terminate the Agreement unilaterally by sending an appropriate letter (hereinafter referred to as the “Letter”) at the Cardholder’s address. 10 (ten) calendar days after the date of sending of the Letter to the Cardholder’s address, the Agreement with the Cardholder (except paragraph 7.1.3 of those Conditions) shall be deemed terminated.

Note: The Letter shall be deemed dispatched at the date of its sending to the Cardholder’s address specified in the Application. Delivery of the Letter to the Cardholder or his/her representative against receipt shall be deemed equivalent to sending of the Letter to the Cardholder’s address by mail.

7.1.3. In case of termination of the Agreement with the Cardholder on the Cardholder’s or the Bank’s initiative, on the following Banking Day after a lapse of 45 (forty five) calendar days from rendering of the Cardholder’s or the Bank’s notice/letter of termination of the Agreement with the Cardholder, the Bank shall:

а) to pay the Cardholder the balance of funds on the Card Account (hereinafter referred to as the “Balance”) in cash at the Bank’s cash department, or
b) transfer the Balance into the Current or any other Account opened with OTP Bank JSC or with any other bank and specified by the Cardholder in the application for closing of the Current (Card) account, if the Balance is in the national currency, or
c) to transfer the Balance strictly and solely into the Current or other Account opened with OTP Bank JSC and specified by the Cardholder in the Application, if the Balance is in the foreign currency.
d) If the Balance has not been paid in cash during the year from the date of signing the application for closing of the Current (Card) account or the Cardholder didn’t specify the requisites of account for transfering the Balance, the Bank transfers the Balance to the Bank’s income according as the total amount of the Balance don’t exceed the tax-free minimum of the income of citizens, fixed on the date of such transferring.

If the Cardholder fails to give the Bank any instructions in the application regarding transfer of the Balance or fails to come on the aforementioned day to receive cash, the Cardholder shall authorize the Bank to transfer the Balance at the end of such day into the Bank’s “on-demand account” №29090001900000 (МFO 300528) and if, the Cardholder states in the Application the account opened with OTP Bank JSC which is not held by any customer (for example, a transit account of the Bank, the Bank’s “on demand” account, etc.), and shall instruct the Bank:

  • to keep the Balance on the specified account with charging of interest at a zero interest rate during the whole period of keeping;
  • to pay the Balance to the Cardholder or his/her legal representative, if the Balance has not been passed to the Bank’s income;
  • to transfer the Balance to the Bank’s income not earlier than 1 (one) year after the date of entering the Balance to the specified account, provided that the Balance has not been paid to the Cardholder or his/her legal representative up to that time.
    Such being the case, the aforementioned instruction of the Cardholder shall stand in force until completely fulfilled, even after termination of Agreement.

7.1.4. The Bank shall have the right to change and/or addenda to these Conditions. The changing and/or addenda may be made in accordance with the procedure stipulated in the Rules.

8. OTHER TERMS AND CONDITIONS

8.1. To stop or prevent any unlawful or unapproved actions with the Card, the Cardholder shall commission the Bank, at any time and without conclusion of any additional agreements, to suspend or discontinue operation of the Card/s, or to refuse its/their renewal (extension), replacement or issue of new Card/s, or to commission any Payment System member to withdraw the Card, in particular, in the following cases:

  • should the Cardholder or the Cardholder’s Authorized Person deliberately provide the Bank with false information about himself/herself and/or about his/her relations with other banks, or conceal any information that was unknown to the Bank and was not taken into account at consideration of the application for opening of the Card Account;
  • should the Cardholder or Organization delay more than once redemption of his/her Debt Obligations;
  • should the Cardholder more than one (1) time during the year file the written or verbal statement with the Bank notifying of loss/theft of his/her Card, and, as this has taken place, the transactions using such Card have taken place prior to its actual blocking in the Bank’s Authorization system and entering in the Stop-LIST, and the Cardholder denies such transactions thereafter;
  • should the number of transactions, with regard to which the Cardholder has initiated chargebacks during one Settlement Cycle, exceed 15% (fifteen percent) of the total number of transactions having taken place over such Settlement Cycle.

The Cardholder shall commission the Bank to notify any and all Payment System members of any unlawful actions or any actions unapproved by the Bank, with the use of the Cards, without any limitations or additional conditions.

8.2. Any and all relations arising from and in relation to the Agreement with the Cardholder shall be regulated by effective legislation of Ukraine.

8.3. These Conditions and Rules have been drawn up in Ukrainian and English. In case of discrepancies between the texts in Ukrainian and English, the Ukrainian version shall prevail.

8.5. Any disputes that may arise between the Parties with regard to performance, alteration or cancellation of this Agreement with the Cardholder shall be settled by the Parties by means of negotiations, and should such settlement be impossible, the disputes shall be settled judicially, in accordance with effective legislation of Ukraine.

8.6. The Cardholder shall commission the Bank to notify Payment System members of any unlawful actions or any actions unapproved by the Bank, with the use of the Cards, without any limitations or additional conditions.

8.7. The Parties determine that any standards of the Payment Systems are confidential and may be made available for familiarization and use in the process work exclusively to the Bank’s officers/employees and representatives of the Payment Systems.

8.8. The capitalized terms used throughout these Conditions are defined terms and shall have the meanings as defined in these Conditions and in the Rules. Other terms that are used in these Conditions and are not defined in these Conditions or the Rules shall have the meaning as defined by effective legislation of Ukraine.

8.9. By signing the Application the Cardholder warrants and guarantees:

  • that he/she confirms that he/she have received the Conditions, Rules and Tariffs in electronic or paper form for familiarization;
  • that he/she understands, consents and agrees to all provisions of this Conditions, Rules and Tariffs, with which he/she undertakes to acquaint each and every Authorized Person of the Cardholder and which he/she undertakes to fulfill;
  • that he/she understands and undertakes to bear responsibility for violation or breach of the requirements of the Conditions, the Rules and Tariffs by the Cardholder and/or any of the Cardholder’s Authorized Persons, to the extent and in accordance with the procedure established by these Conditions;
  • that he/she agree that completed Application of issue of the salary card, signing by Cardholder, together with Conditions of banking services, Card use rules and Tariffs make the Agreement with the Cardholder concluded with the Cardholder and the Bank.