General Terms and Conditions of Bank Service (hereinafter - the Terms and Conditions) 1. Definitions: Unless otherwise specified by the Agreement and/or Other Agreement Associated Thereto, or otherwise is required by its context, the below definitions have the following meanings in the Agreement and/or Other Agreement Associated Thereto: 1.1. 1.1.1. 1.1.2. 1.2. 1.3. 1.4. 1.4.1. 1.4.2. 1.4.3. 1.4.4. 1.4.5. 1.5. 1.6. 1.7. 1.8. 1.9. 1.9.1. 1.9.2. 1.10. 1.11. 1.12. 1.13. 1.14. Authorization – a procedure of identification of the Customer through the Access Codes on the basis of which the Bank provides the Banking Product service: Simple Authorization – Authorization through the User Name and Password. Complex Authorization - Authoriation through the User Name, Password and Digipass or OTAC received through the SMS or electronic email. Automatic Payments – Banking Product defined by the Annex #3 to the General Terms and Conditions. Extract - the information on the Transactions conducted on the Account. Account – account of the Customer in the Bank: Single-currency Account - Account with funds placed in one specific currency. Multi-currency Account - Account with funds placed in the several currencies separately, representing one account. Current Account - Standard Current Account and/or Universal Current Account, on which funds of the Customer are being placed and which are managed by the Customer in order to make Payments or for other purposes. Standard Current Account - Current Account for execution of the Transactions, and with no Card linked to it. Universal Current Account - Current Account, with the Card linked to it and which makes possible to execute the Transactions at the moment of the Agreement conclusion. Unauthorized Overdraft - negative balance on the Universal Current Account occurring without the Bank’s consent/permission. Bank - JSC Bank of Georgia, identification code: 204378869, head office located at the address: 29a Gagarini Str., Tbilisi, Georgia, Website: www.bankofgeorgia.ge, e-mail: customerservice@bog.ge, registration number: 06/5-07. Automatic Teller Machine (ATM) - self-serving electronic software-driven device which allows the Customer to withdraw cash as well as to execute other Transactions defined by the Legislation and the Bank. Cash Withdrawal Limit from ATM - maximum amount of cash allowable to withdraw from the ATM within the period (27 hours period unless otherwise decided by the Bank) defined by the Bank. Card - main and/or additionam and/or contactless card international plastic card related to the Universal Current Account: Main Card - first Card existing for managing the Universal Current Account. Additional Card - Card existing for managing the Universal Current Account except of the Main Card, additionally issued by the Bank to the Customer for handing over to the Customer and/or other individual nominated by the Customer. Card identification data(s) - card number, validity period, name and surname of the owner and card identification code (CVC2 or CVV2). Card Security Service - Banking Product defined by the Annex #12 to the General Terms and Conditions. Card 3D Security - Banking Product defined by the Annex #14 to the General Terms and Conditions. Card Delivery Service at the Place of Stay - Banking Product defined by the Annex #19 to the General Terms and Conditions. Transfer - transfer of sums from the available funds on the Customer’s Account to the bank account of the Receiver through the non-cash payment. 1 General Terms and Conditions of Bank Service 1.15. 1.16. 1.17. 1.17.1. 1.18. 1.19. 1.20. 1.21. 1.22. 1.23. 1.24. 1.25. 1.26. 1.27. 1.28. 1.29. 1.30. 1.31. 1.32. 1.33. 1.34. 1.35. 1.36. 1.37. 1.38. 1.39. 1.40. Application – Customer’s application to the Bank (in the form established by the Bank) about providing and/or suspending/terminating/changing the Banking Product/Banking Service according to the conditions specified in the same application. Representations and Warrantees – the Customer’s representations and warranties included in the Article 6 of the General Terms and Conditions. Order - any instruction and/or order of the Customer given to the Bank within the framework provision of the Banking Product. Payment Order - Order given by the Customer or the Reveiver to the Bank regarding Payment Transaction. Additional Terms and Conditions – terms and conditions set out by the Annex “A” to the General Terms and Conditions (if any) including all changes and amendments. Annex – unless explicitly specified otherwise in the Agreement and/or Other Agreement Associated Thereto, Annex(s) to the Agreement and/or Other Agreement Associated Thereto and/or the Application (as the context may require), forming integral part of the Agreement and/or the Other Agreement Associated Thereto and effective in conjunction with them. Additional Cardholder – the person defined by the Customer who holds and uses the Additional Card. Remote Banking Service - Internet Banking, Mobile Banking, Telephone Banking, Tskapplication, ATM, Self-serving Terminal, Epay.ge, Esesxi.ge, SMS Banking. Elva - Banking Product defined by the Annex #15 to the General Terms and Conditions. Electronic Moneybox - Banking Product defined by the Annex #16 to the General Terms and Conditions. Website - website(s) used by the Bank. Self-serving Terminal - the device allowing the Bank to execute the specified Transactions. Legislation - effective legislative acts and subordinate acts of Georgia and the international agreements and covenants included in the system of the legislation of Georgia. E-mail Banking - the Banking Product defined by the Annex #9 to the General Terms and Conditions. Internet Banking - the Banking Product defined by the Annex #7 to the General Terms and Conditions. Customer - person whose name, identification data and other information is given in the Application and whose order is executed by the Bank. Conversion of Money - purchase of one currency in exchange for another. Credit - the Banking Product defined by the Annex #13 to the General Terms and Conditions. Creditworthiness – Assessment of the Customer by the Bank regarding the possibility of receiving the Credit by the Customer, in accordance with the rules and procedures defined by the Bank Courier Service - the Banking Product defined by the Annex #17 to the General Terms and Conditions. Limit - financial, quantitative or any other limit/restriction/prohibition established by the Bank for the usage of the Banking Product and execution of the Transaction by the Customer. Other Agreement Associated Thereto (or Other Agreement Associated to the Agreement) – according to the Agreement and on its bases: (a) insurance agreement, security agreement, surety agreement and/or documents drew up between the Bank and the Customer or the Bank/Customer and the Third Party execution and/or the issuance of which is stipulated by the Agreement and/or is carried out on its basis; and/or (b) any other agreements between the Bank and the Customer or the Bank/Customer and the Third Party executed on the basis of terms and conditions of the Agreement in order to use bank service defined by the Agreement and/or for the purpose of security. Third Party - any Person except the Customer and the Bank. Receiver - a Person for the benefit of which the Payment Transaction /Transfer is being implemented. Permanent Arbitration Court - Dispute Resolution Center Ltd., identification code: 204547348; website: www.drc-arbitration.ge Standing Order - Banking Product defined by Annex #4 to the General Terms and Conditions. Banking Service - service offered to the Customer by the Bank in compliance with the Agreement. 2 General Terms and Conditions of Bank Service 1.41. 1.42. 1.43. 1.44. 1.44.1. 1.44.2. 1.45. 1.46. 1.47. 1.48. 1.49. 1.50. 1.51. 1.51.1. 1.51.2. 1.52. 1.53. 1.54. 1.55. 1.56. 1.57. Mobile Banking - the Banking Product defined by Annex #8 to the General Terms and Conditions. Party/Parties - the Bank and/or the Customer and/or the Additional Cardholder as the context may require. Overdraft - overspending the funds existing on the Accounts by the Customer. Transaction - any Bank Service provided by the Bank under the Customer´s Order: Payment Transaction - deposit, transfer or withdrawal of the funds initiated by the Customer or the Receiver. Cash withdrawal transaction - Cash withdrawal operation from the account through the card. Penalty - the amount of money to be paid to the Bank in case of non-performance or improper performance of the financial and/or other obligation by the Customer under the Agreement and/or Other agreement Associated Thereto. The amount and terms are defined by the Agreement and/or Other Agreement Associated Thereto. Person - natural person(s), legal entity(ies) and/or other organizational formation(s) under the jurisdiction of Georgia or other countries, not representing legal entity(ies). Banking Day - any day (except Saturday, Sunday or official holidays defined by the Legislation), when the commercial banks are operating in Georgia, are open for their regular activity. Banking Product - types of banking products defined by the Article 4 of the General Terms and Conditions, standard conditions of which are posted on the Website. Commission Fee - the amount of money payable by the Customer to the Bank for the use of the Banking Product, the size of which is defined by Annex No. 1, Annex No. 2 to the General Terms and Conditions and/or Annex No.13 related to the loan, while the procedure of charging and paying the commission fee is defined in accordance with the conditions established by the Bank. Telephone Banking - Banking Product defined by Annex #18 to the General Terms and Conditions. Universal Identifiers - combination of data provided by the Bank to the Customer after the registration of the Customer in the CIS, through which the Customer is allowed to use Remote Banking Service: User Name - one of the parameters automatically defined by the CIS which is unique and necessary for the Authorization, and changable at any time by the Customer throug the Remote Banking Service. Password - combination of digits generated by the CIS used for the Authorization, which shall obligatory change by the Customer after its first usage. Force Majeure - acts of God, fire, cut off of electricity supply, failure of equipment, software fault, hostilities, administrative - legal act and/or other circumstances insurmountable by the Bank and beyond its control which: a) are not related to the Bank’s mistakes or negligence, b) started and developed after entering into force of the Agreement and c) directly affect the whole and/or proper fulfillment of the obligations under the Agreement. Money Transfer - Payment Transaction executed for the Customer without opening Accounts for him/her and/or the Receiver under which funds are delivered directly to the Receiver or to the other provider, acting on behalf of the Receiver, for making delivery to the Receiver. Centralized Identification System (CIS) - the Bank system in which the method of the Customer’s Authorization and the Customer’s Universal Identifiers are registered allowing the Customer to use Remote Banking Services. Centralized Remote Banking Services - part of the services (Internet Banking, Mobile Banking, Telephone Banking, Tskapplication) included in the Remote Banking Services which is accessible through Universal Identifiers registered by the Customer in the CIS. Affiliates – in relation to the Bank, any company whose stocks, shares and/or less than 50 (fifty) % of votes are directly or indirectly held or otherwise managed by the Bank. Purchase Limit - maximum daily limit set out for purchasing goods/services by the Customer at merchans or other service providers. 3 General Terms and Conditions of Bank Service 1.58. 1.58.1. 1.58.2. 1.59. 1.60. 1.61. 1.62. 1.63. 1.64. 1.65. 1.66. 1.67. 1.68. 2. 2.1. 2.2. 3. 3.1. 3.2. 3.3. 3.3.1. 3.3.2. Access Codes - any kind of the confidential information provided by the Bank to the Customer for the safe usage of the Banking Product/Banking Service. One-time Authorization Code (OTAC) - combination of the randomly generated digits used for the performance and confirmation of the Transactions through the Remote Banking Services and/or for confirmation of the Operations defined by the Bank. PIN Code - personal identification number handed over to the Customer by the Bank together with the Card. Spending Limit - total volume of spending funds (including cash withrawal) from the Card. Group Company - BGEO Group Plc (identification/tax registration code: 6232931314569A) or any other enterprise and organizations in which BGEO Group Plc directly or indirectly holds stocks or shares. Agreement - (a) Application submitted by the Customer to the Bank; (b) General Terms and Conditions; (c) Annex No.A to the General Terms and Conditions concluded between the Parties (Additional Conditions) in the presence of it; and (d) any additional Annex and/or Application, drawn up between the Parties in the future, including occasional changes and additions to the said documents. Digipass – the Banking Product defined by the Annex #20 to the General Terms and Conditions. Pay Sticker - the Banking Product defined by the Annex #11 to the General Terms and Conditions. SMS Banking – the Banking Product defined by the Annex #6 to the General Terms and Conditions. Tskapplication - the Banking Product defined by the Annex #10 to the General Terms and Conditions. Financial Number – Mobile phone number under Customer’s ownership, which is registered as a unique number in the System of the Bank by sending One-time Authorization Code (OTAC) on the same number for the purpose to recieve information about usage of Bank Products/Bank Services , also one-time codes and/or Access Codes sent by the Bank. Conversion of Money via the Electronic Trading Platform – the Banking Product defined by Annex #21 to the General Terms and Conditions. QR PAYMENT – Banking service, defined in Annex No.22. Subject of the Agreement According to the Agreement the Bank is obliged to provide the Customer with the Banking Service and/or the service related to the Banking Product in exchange for which the Customer is obliged to fulfill the terms and conditions and pay the Bank Commission Fee (if any), in accordance with this Agreement. For using a number of the Banking Products or for getting the Banking Services the Customer is obliged to file the relevant Application to the Bank. In case the Customer has no any Banking Product defined by the Annexes of the General Terms and Conditions, relevant Sub-paragraphs(s) of the General Terms and Conditions (their Annexes) shall not apply to the Customer. Such Annex(es)/paragraph(s) shall be activated for the Customer together with the right granting to use the specified Banking Product. General Terms and Conditions of the Banking Product/ Banking Service The National Bank of Georgia supervises the Bank. Its Website is: www.nbg.ge. The National Bank of Georgia is not responsible for improper performance of the Bank obligations, as the provider. The Order: The time of the receipt of the Payment Order is the moment when the Bank receives the Payment Order, regardless of it’s initiator, Customer or the Receiver. Payment Order submitted to the Bank on a non-banking day, shall be deemed to have been received on the next Banking Day. Therefore, transfers of foreign currency out of the Bank submitted after 18:00 pm on the Banking Day, as well as the transfers under 10,000 (ten thousand) GEL submitted to the Bank after 4 General Terms and Conditions of Bank Service 3.3.3. 3.3.4. 3.3.5. 3.3.6. 3.3.6.1. 3.3.6.2. 3.3.6.3. 3.3.6.4. 3.3.7. 3.3.8. 3.3.8.1. 3.3.8.2. 3.3.8.3. 3.3.8.4. 3.3.8.5. 3.3.8.6. 3.3.8.7. 3.3.8.8. 3.3.8.9. 3.3.9. 3.4. 3.4.1. 3.4.2. 3.4.3. 3.4.4. 3.4.5. 3.4.6. 16:45 pm and the transfers over GEL 10,000 (ten thousand) GEL out of the Bank, sybmitted after 17:55 pm shall be deemed accepted on the following Banking Day. The Bank provides execution of the Payment Order within 2 (two) days from the date of its submission to the Bank, except for cases provided by the Legislation. The Payment Order may not be executed upon itssubmission to the Bank , whereas the Bank fully charges the Customer's Account (s) for the corresponding funds when receiving said Order. The Order regarding the Payment Transaction must contain details specified under the Order No. 8/04 of January 22, 2015 of the President of the Nnational Bank of Georgia on the Rules for the Execution of the Payment Transactions, for its proper fulfillment. The electronic Payment Order must definitely contain at least the following requisites: Account number from which the Payment Order shall be executed; Amount of money and it’s currency; Account number of the Receiver; Other additional details stated by the Bank,specific for this kind of Payment Order. For the execution of the Transaction the Bank and the Customer must sign the Order, except of electronic Payment Order. The Bank is entitled not to recieve the Order for execution and/or to refuse the execution of the Order if: the Order does not comply with the requirements established by the Legislation and/or the rules and procedures established by the Bank (including the stipulated conditions of the agreement concluded with the intermediary bank in case of international transfers); the Order contains inaccurate information; the funds existing on the Account, including Commission Fees, are insufficient for the Order execution or allowed Overdraft limit required to execute the Order is spent; the Bank has not received the Order; the funds or a part thereof required for the Order execution is freezed, including freezings by the Bank; the Transaction exceeds the Limit set out by the Account (s) or the Bank; the funds existing on the Account are subject to public-law restrictions; the Bank suspects fraud or illegal action; there is any such problem/circumstance, as a result of which the Order execution becomes impossible. The Customer is responsible for the correctness of each Order. Remote Banking Service: The Customer is entitled to use the Remote Banking Service (except for SMS Banking and E-mail Banking) upon his/her registration in the CIS. The Mobile Banking, Telephone Banking, Tskapplication are automatically activated through the service center and the ATM from the moment of the registration of the Customer in the CIS, as well as all Remote Banking Service activates automatically in case of registration of the Customer in the CIS via the Mobile Banking or the Internet Banking (from the following Website: ibank.ge). The Customer activates the Remote Banking Service through the Universal Identifiers. The Customer should not leave the device for connecting to the Remote Banking Service inadvertently, when it is connected to the network. During the period of using Remote Banking Service, the Customer undertakes not to leave the corresponding device accessible to the Remote Banking Service and not to allow the usage of this device by Third Party till the Customer completes the usage of the Remote Banking Service and persuades that use of it is impossible by Third Parties. The Customer is responsible for any Transaction performed through the Remote Banking Services in his/her use. 5 General Terms and Conditions of Bank Service 3.4.7. 3.4.8. 3.4.9. 3.4.10. 3.4.11. 3.4.11.1. 3.4.11.2. 3.4.11.3. 3.4.11.3.1. 3.4.11.3.2. 3.4.11.3.3. 3.4.11.3.4. 3.4.11.3.5. 3.4.12. 3.4.13. 3.4.14. 3.4.15. 3.4.16. 3.4.17. 3.4.18. 3.4.19. 3.4.20. 3.4.21. The Bank is not liable if the Customer is not provided with the Remote Banking Service, for reasons beyond the Bank's control, including the cases of interruption in the Banking System or in the operation of the Remote Banking Services, in order to update and/or improve the system. The Customer gives the Bank authorization to fulfill all verbal or electronic instructions issued by the Customer (or which appear to have been issued by the Customer) via the Remote Banking Services. The Customer agrees and gives the Bank authorization to open the Account for the Customer in accordance with the rules and conditions established by the Bank under the Order submitted by the Customer within the scope of the Remote Banking Service. The Customer’s consent to the conditions of the agreement sent via the Remote Banking Service shall be the equivalent to the Customer’s signature of the same agreement and such agreement shall be deemed effective upon receipt of the Customer’s consent by the Bank via the Remote Banking Service. When performing the Remote Banking Services, the Bank shall not be responsible for: any damages caused by any failure as a result of a malfunction of the Customer's devices and software. a virus or other similar problems that may be related to the usage of Remote Banking Service. the damage/loss caused or expected as a result of: incompatibility of the Customer’s software or any type of devices with the Bank system. damage/destruction of the Customer’s data/documents, software and any type of the devices while using the Remote Banking Services. unauthorized usage of the Access Codes by any Person; the Third Party connection to the telephone or internet communication between the Customer and the Bank; if the system associated with the implementation of the Remote Banking Services is malfunctioning, including cases of technical malfunction, might be caused by the Bank. The registration/recept and/or restoration/replacement of the Universal Identifiers may be carried out by the Customer in the service center and/or ATM (with the Card), via the Internet Banking (only from the Website: ibank.ge) or the Mobile Banking, at the discretion of the Bank. In order to receive the Remote Banking Services, the Customer can be entrust to perform the Simple Authorization or the Complex Authorization. The Authorization method shall be chosen in each cases of using the appropriate Remote Banking Service registration in CIS. During the period of using the Remote Banking Services, the Customer is entitled to, or in the case of the Bank’s demand, the Customer is obliged to, change the Universal Identifiers at any time through the Remote Banking Service or in the service center in accordance with the conditions stated by the Bank. The Password given to the Customer first time is subject to mandatory change, at the first usage by the Customer of any Remote Banking Service. The Customer is entitled to change both the User Name and the Password in the Internet Bank and in the Mobile Bank. Also the Customer is entitled to: change the mobile phone number (Financial Number) used for the Authorization in the Internet Bank, recover the Password in the: ATM, service center, Internet Bank (only from the Website: ibank.ge) or Mobile Bank. The Customer is entitled to change the Password and the User Name only in the case when using the Remote Banking Service, he/she successfully passes the identification according to the User Name and the Password registering by this date. The Bank determines the list of the Transactions requiring the OTAC. The OTAC can be sent to the Customer on a Financial Number (the OTAC consisting of 4 digits) and/or by the Digipass (the OTAC consisting of 6 digits). The OTAC is sent only to the Financial Number which is registered in the CIS. The Financial Number must be unique in the CIS and should not be fixed in relation to another customer. Within the scope of the Remote Banking Services, the Bank is entitled to: 6 General Terms and Conditions of Bank Service 3.4.21.1. 3.4.21.2. 3.4.21.3. 3.4.21.4. 3.4.21.5. 3.4.22. 3.4.23. 3.4.24. 3.4.25. 3.4.26. 3.4.27. 3.4.28. 3.4.29. 3.4.30. 3.4.31. 3.4.32. withdraw the funds for the execution of the Order from any Account(s) or from the certain Account(s) specified under the relevant Application. Establish the specific Limits for the Transactions performed through the Remote Banking Services and periodically change these Limits, at its own discretion. contact the Customer and verify the Authorization of the Transaction or the Order at its discretion, if the value of the Transaction or the Order in question exceeds the Limits set out by the Bank. Also suspend execution of such Transaction until verification of the Authorization. suspend or terminate the Remote Banking Service without prior notice of it to the Customer in order to protect the interests of his/her if the Bank suspects violation of the security numbers, or if such deed is reasonable for any other reason(s). change the requirements of the system devices that can be installed to receive the Remote Banking Services. The Transaction through the Remote Banking Service is not always synchronous with the received Order and the Order may not be executed upon its receipt. It may take a certain amount of time to process certain issues and in some cases, the Order may be executed within 2 (two) Banking Days from the date of its submission to the Bank, except the case(s) provided by the Legislation. Based on the requirement of the Bank, the Customer undertakes to provide assistance to the Bank and/or to the law-informcement bodies, for damages caused as a result of unauthorized use of the Remote Banking Services. The Customer acknowledges and agrees not to use the Remote Banking Services illegally or through violating the rights of the Bank or the Third Party. By signing the Agreement, the Customer applies and gives the Bank authorization to: a) rely and act in accordance with all Order have been Authorized, or if the Bank considers that it is the Authorized even in cases when such Order contradicts any other mandate issued at any time, in relation to accounts and activities of the Customer; b) withdraw from the Customer's Account(s) any funds paid or issued by the Bank in accordance with any Order, including the fees for any services related to the management of the Account(s) and the performance of the Transactions under the Customer's Order. The Bank receives the Order for the execution only if it is issued via the Remote banking Service and through use of the Universal Identifiers. The Bank is entitled to, but does not undertake to verify the reliability of the received Order, and require from the Customer to provide a document containing additional information, if this is necessary for execution of the Order. The Customer acknowledges and agrees to execution of his/her Order by the Bank, which implies the withdrawing funds from the Account(s), even in cases without the Authorization of the Order by the Customer. Although, the Customer takes full responsibility for an unauthorized Transaction or the Order. The Bank takes measures to inform the Customer on the temporary suspension or termination of the Remote Banking Services through the electronic notice or by the other means, while failure of the completion of this condition shall not cause the Bank's liability. On the bases of the Customer’s request, the Bank takes all necessary measures to stop or cancel the proper execution of any Order in time, unless otherwise provided by the Legislation. Therefore, the Bank is not liable for the dissatisfaction of this requirement, if the Bank has not received the appropriate notice. The Customer undertakes to provide the Bank with the complete and reliable Order, the Bank shall be released from any responsibility caused by incompliance with this requirement. The Customer is responsible for any damages and/or loss caused by his/her negligent deed, with which the Customer has contributed the fulfillment of the unauthorized Transaction, or commitment of a fraudulent act. The Bank records are the document confirming the relationship of the Customer with the Bank. The Customer acknowledges the records made by the Bank as a legally enforceable document, despite the fact that such document(s) is(are) not original. 7 General Terms and Conditions of Bank Service 3.4.33. 3.5. 3.6. 3.7. 3.8. 3.9. 3.10. 3.11. 3.12. 3.13. 3.14. 3.15. The Customer agrees and states that he/she is fully responsible for communication with the Remote Banking Services through the Customer’s internet provider and/or the navigator. The Customer has the opportunity to receive information regarding the exchange rate on the Bank’s Website. The Customer is entitled to find an information about the terms and conditions of the Agreement through the Website during the validity term of the Agreement. The Customer is entitled to apply the Bank with the Application (if it is necessary) for the purpose to receive and/or terminate the use of the Bank product/Banking service specified in the Agreement. The Bank shall review the Application if the Customer satisfies all conditions provided by the Agreement and/or Other Agreement Associated Thereto during the completion of the Application. The Customer shall not use the Banking Product if this induce overspending of the funds available on the Account (below the zero) without the Bank's prior consent or in case of exceeding the Limit. In the event of a breach of the said obligations by the Customer, The Bank is entitled to allow an Overdraft to Customer’s any Account without obtaining additional consent or acceptance of the Customer, in accordance with terms and conditions under the Agreement, if there is a breach of the obligation by the Customer. The Customer is obliged to pay Commission Fees in accordance with tariffs established by the Bank and provided by the Agreement at time of payment, unless otherwise defined by an additional agreement of the Parties, also while carrying out Payment Transaction (including amedments), Transaction annulment or money return Transaction and foreign payment system or information exchange system is a participant, the Customer will be obliged to pay additional Commision Fees if required by foreign intermediary. The Customer may also be charged with commission fee for non-guaranteed type (SHA and / or BEN) of incoming transfer(s) (as it may be additionally requested by the foreign intermediary bank and / or by the Bank, which will be deducted by the Bank from the transferred amount) not more than 30 units in case of US dollars and euros and/ or not more than GEL 100 in case of other currencies (depending on the amounts transferred). The Commission Fees are payable at certain intervals and on a certain date established by the Bank. The Bank is entitled to withdrow the Commission Fee from any Account at its discretion, without additional consent or acceptance of the Custome in accordance with the tariffs effective in the Bank, and with the agreed order under the agreement with the Customer . If the Commission Fee and the existing funds on the Account are in different currencies, the Bank independently performs the Conversion of Money at the Bank’s effective commercial exchange rate on the day of the payment, the cost of which shall also debited from any Account and the converted amount of money shall be applied for the payment of the Commission Fee. The Bank is entitled to withdraw part of the Commision Fee from the existing funds on the Account(s), and the remaining part after the first deposit/bank of the funds on the Account(s) if funds on the Customer's Account (s) is(are) insufficient for full and proper payment of the Commission Fees.. The Customer undertakes to pay at his own expense all debts/payments stated by the Legislation or the legislation of another country (if this condition is extended to the Customer) that may arise in connection with the use of the Bank product (s)/Banking service(s). The Bank is responsible for the payment of any debt or obligation associated with the received CommissionFee. If the Legislation states the payment for any obligations through deduction of the funds, the Bank and/or any Group Company shall pay or withdraw such fund at the expense of the Customer. If the Bank under the Legislation is responsible for any tax payment obligation, induced fromthe Customer’s taxation, the Customer undertakes to immediately reimburse the Bank for the amount of all such liabilities. 8 General Terms and Conditions of Bank Service 3.16. 3.17. 3.17.23. 3.17.24. 3.18. 3.19. 3.20. 3.21. 3.22. 3.23. 3.24. 3.24.1. 3.24.1.1. The Bank ensures the compliance with the requirements of the Legislation, whereas the Customer undertakes to comply with either the Legislation or the legislation of any country which for any reason may apply to the Customer. In order to receive and use the Banking Product(s)/Banking Service(s), the Customer undertakes: carefully read the Agreement; to fill in and/or sign the Application (if any) or/and other documents required for obtaining/using the relevant Banking Product / Banking Service. The Bank is entitled to refuse the Customer in using the Banking Product(s)/Banking Services if the Customer has not timely filled in, signed, or returned/submitted the Bank the Application (if any) or a documents required for using the Banking Product(s)/Banking Services in the form and content accepted for the Bank. In addition, after reweing the Application and/or other documents, the Bank is entitled, at its discretion, not to accept this documents and refuse to provide the Customer with the Banking Product (s)/Banking Service(s), without disclosing the reason. The Customer agrees that in accordance with the rules established by the Legislation, for the purpose to provide the Customer with the one-time or multiple Banking Products/Banking services and within the scope of the said Banking Products/Banking Service, and also with the purpose of ensuring one-time or multiple fulfillment of the obligations in full (including one-time and multiple receipt of information ), and in the required volume, to obtain and use the personal data of the Customer required for the Bank existing in the electronic database of the ULPP Public Services Development Agency, including but not limited to the sample of the Customer's signature. In addition, as a sample of the Customer's signature, the Bank may also use the signature recorded in any Application. Rules for the implementation of the payment services by the Bank are specified in these General terms and conditions and on the Website: www.bankofgeorgia.ge, therefore, General terms and conditions shall prevail if there are contradictions between the terms posted on the Website and these General terms and conditions,. Within the scope of the specific payment service, the Bank employee is entitled to provide information to the Customer verbally, and when the Customer receives the Remote Banking services she/he can follow the rules specified on the Website: www.bankofgeorgia.ge and the General terms and conditions. The Customer may receive certain information about the details of the particular Transaction through the service center and/or the Telephone Banking (some information about the several Transactions is possible to recieve through the Remote Banking Services as well), and also based on the type of the Transaction, an extract, the Extract, receipt and/or another document may be granted to the Customer in accordance with the terms and conditions established by the Bank. The Customer is entitled to inform the Bank in written form about any modifications in and/or cancelation of the document confirming the Authorization and/or information provided/submitted to the Bank within 5 (five) Banking Days from the occurrence of such circumstances. The obligation specified in this Clause is also definitely applied to all documents provided to the Bank, under which the Customer grants the Authorization of an action on his/her behalf. The Bank shall not be responsible for the damages/loss induced by such action/deed performed untill the said notice from the Customer. Approval of the Transaction, Order and/or any document (including the deal) proposed by the Bank within the scope of the Banking Products/Banking Services by the SMS code by the Customer: The Bank is entitled to offer the Customer approval of any document (including the deal) prepared in the scope of the Transactions, Orders and/or the Banking service through the SMS code, instead of approval by the Customer’s signature in accordance with the procedures established by the Bank. This implies the following: The Bank shall send the data (the data is determined by the Bank) on any proposed document (including the deal) and the SMS code within the scope of the relevant Transaction, Order and/or Banking Service to 9 General Terms and Conditions of Bank Service 3.24.1.2. 3.24.1.3. 3.24.1.4. 3.24.1.5. 3.24.1.6. 3.24.2. 3.25. 3.26. 3.27. 3.27.1. 3.27.2. 3.27.3. 3.28. 3.29. 3.29.1. 3.29.2. the Customer’s Financial Number and/or other mobile phone number specified/preliminary defined by the Customer. If the Customer provides the SMS code (the Customer provides the SMS code to the relevant Bank employee verbally) to the Bank, the Customer confirms that he/she is fully acquainted with the document (including the deal) proposed by the Bank within the scope of the relevant Transaction, Order and/or the Banking Service, agrees with the reliability of the conditions/information contained therein and wishes to fulfill the Transaction, Order and/or the conclusion/preparation of the document (including the deal) proposed by the Bank within the scope of the Banking Service. The Bank enters the SMS code into the software program and completes the process associated with the fulfillment of the Transaction, Order and/or conclusion of the documents (including the deal) if the Customer designates SMS code sent by the Bank. Approval of the documents (including the deal) proposed by the Bank within the scope of the Transaction, Order and/or the Banking Service by the SMS code is equivalent to the Customer's signature on the material document between the Parties. The list/types of the Transactions, Orders and/or documents (including the deal) approved by the SMS code are determined by the Bank, at its own discretion. In case of the Customer's request the Bank shall provide the Customer with the relevant document when the approval of the documents (including the deal) by the SMS code within the scope of the Transactions, Orders and/or documents, proposed by the Bank. The Bank shall not be liable for any damages/loss, that might be caused as a result of specification/predetermination of a Financial number and/or mobile phone number by the Customer, the sending of SMS code to which can cause such damage/loss. The Bank will refund to the Customer the amount of the unauthorized Payment Transaction if no more than 40 (forty) days have passed since the date of the unauthorized Payment Transaction or no more than 180 (one hundred and eighty) days have passed from the date of an incorrect operation and the Customer notified the Bank about the unauthorized/incorrect Transactions in the shortest period after receiving the information on such Transaction, and in case of a direct debit, within the terms established by the National Bank of Georgia. The Customer is responsible for the damages caused by an unauthorized Transactions by stolen or lost payment instrument or its misappropriation or illegal use in Georgia within the amount of money no more than established by the Legislation. The Customer shall bear full responsibility for damages assosiated with the unauthorized Payment Transactions, caused by his/her criminal action and/or if the Customer: uses a payment instrument in violation of the conditions established for this payment instruments. doesn’t comply with the security measures of the payment instruments provide protection of means for personification of these instruments. doesn’t inform the Bank or a person determined by the Bank about the detection of the loss, theft, misappropriation or illegal use of the payment instruments as soon as possible after its detection. The Customer undertakes to promptly notify the Bank in writing about the fact of the unauthorized or incorrect performanceof the Transactions. The Customer shall not be liable neither for damages caused by the stolen, lost, misappropriated or illegally used payment instruments, nor for damages caused by the unauthorized Transactions as a result of non-compliance with the safety measures of the payment instruments or personified means: if the Customer performed the Transaction in accordance with the terms and conditions of the Agreement after receiving a notice from the Bank and such damages is not caused by the intentional or willful act of the Customer. if the Bank doesn’t provide the receipt of the notice, if such damage is not caused by the Customer's intentional or willful act. 10 General Terms and Conditions of Bank Service 3.30. 3.31. 3.32. 3.33. 3.34. 3.35. 3.36. 3.37. 3.38. 3.39. 3.40. 3.41. 3.42. 3.43. 3.44. 3.45. 3.45.1. The Bank is liable for the damages caused by default of the Payment Transaction intentionally or negligently or performed incorrectly or with violation of the deadline. The Bank shall transfer the Chargeback amount to the Customer as soon as the amount is repaid by the Bank, if the Bank performs the Transaction unauthorized orincorrect. If the international rules of Visa, Mastercard or Amex and Bank’s procedures determines the Customer’s responsibility to return to the Bank the credited Chargeback amount, it should be executed within 5 (five) Banking Days from the moment of the Bank’s request. If the Chargeback amount is not refunded within the PERIOD DETERMIEN IN THE Caluse 3.32 of this Agreement, the Bank shall be entitled to allow an Overdraft in the amount of the credited Chargeback on the Customer’s Universal Account, without his/her additional consent, acceptance and without sending a notice to the Customer, in accordance with terms and conditions stipulated by the Agreement. If the operation date of performance of the Transaction coincides with a non-Banking Day, it shall be executed on the date of the next Banking Day, and in such case, the Customer is responsible for the payment of all payments (including those, which may be provided on the next Banking Day) . The Bank is not responsible for the fact of late or intermittent SMS sending by telecommunication companies. In order to provide services, the Customer undertakes to promptly provide the requested information / documentation to the Bank. The Customer undertakes to notify the Bank immediately and in writing on any changes (including: changes / amendments, cancellation, termination, etc.)in power of attorney / authorization / service agreement in which he/she is represented as a part of the deal (trustee / principal or an agent/ authorized person), otherwise, the Bank shall not be responsible for the possible or incurred damages / loss. The Customer undertakes to promptly inform the Bank in writing on any loss / cancellation / loss of ownership of any identification document, otherwise the Bank is not responsible for the possible or incurred damages / loss. The Customer undertakes to periodically review information posted on the Website, including statements, changes and additions. The Customer agrees to receive any direct marketing (advertising) notifications, as well as notifications on the Banking Product/Banking services on any communication channel registered with the Bank (including telephone, e-mail, etc.). If the communication channels of the Customer in any form provided to the Bank are not owned / used by the Customer any more, on which the Customer has not notified the Bank in writing, the latter is not responsible for the possible or incurred damages / loss caused with sending notice. Filling the Application for data registration by the Customer does not automatically cause the changes of the contact channels specified in the Application for the request / receipt of the Banking Product / Banking Service. Currency Exchange on a Current Account, may be implemented by purchase one currency by another, in case of existing funds on the Current Account sufficient for this Transaction. Currency Exchange shall be carried out in accordance with the commercial exchange rate established by the Bank at the date of exchange. The Bank is entitled to block the fund on the Customer's Account required for execution of the Order (including Commission Fee for the currency exchange) from the moment of the receipt of the Order on currency exchange from the Customer. Amount of money retained by the Bank’s ATM shall be returned within 3 (three) Banking Days from the receipt of the Customer’s relevant Application. If the Bank determines that the funds has been incorrectly returned to the Customer, without Customer’s additional consent/acceptance and without sending a notice to the Customer the Bank is entitled, to: Charge any Account for returned funds, 11 General Terms and Conditions of Bank Service 3.45.2. 3.46. 3.47. 3.48. 3.48.1. 3.48.2. 3.48.3. 3.49. 3.50. 3.50.1. 3.50.2. 3.50.2.1. 3.50.2.2. 3.50.2.3. 3.51. 3.52. Allow an Overdraft in the amount of the returned funds in accordance with the terms and conditions of the Agreement if there is no funds on the Customer’s Account (s). If funds are credited to the Customer's account from different web pages (including gambling), the amount will be reflected within 3 (three) Banking days from the date of crediting, despite the provision of this clause, the Customer is entitled to cash out the won amount upon crediting or to pay with a POS terminal. The goal of the Foreign Account Tax Compliance Act (FATCA) is to satisfy the requirements of the US tax legislation and the intergovernmental agreement (IGA) concluded between the US and Georgia. In the event if: The customer is a US citizen and/or a US tax resident, the Customer must provide the Bank with a form for the Request for Tax payer Identifications Number and Certification developed by the US tax service (see the form at http://www.irs.gov/pub/irs -pdf/fw9.pdf ) or the modified form (Form W-9) issued by the Bank to the Customer. The Customer is not a US citizen and/or a US tax resident, but is born in the United States, in which case the Customer must provide the Bank with a Certificate of Foreign Status of Beneficial Owner for United States Tax With holding and Reporting developed by the US tax service (see the form: Http://www.irs.gov/pub/irs-pdf/fw8ben.pdf) together with appropriate explanations (from renunciation of US citizenship or the reason for non-acquisition of US citizenship) or a document on loss of US citizenship or a modified form ( Form 8BEN), issued by the Bank to the Customer. The Customer is not a US citizen and/or a US tax resident, but his/her registration address/actual address is in the US and/or holds a phone number which is registered in the US and/or an authorized representative on opening the account has a registration address/actual address in the USA and/or the Customer gives the Bank a standing payment order to transfer funds to an account existing in the US, the Customer must provide the Bank with a Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting developed by US Tax Service (see the link:. http://www.irs.gov/pub/irs-pdf/fw8ben.pdf) or modified form (form W-9) issued by the Bank to the Customer. If the Form W-9 and the Form W-8BEN are not provided within 14 (fourteen) calendar days from the date of signing the relevant application, as well as in case of receiving additional notice from the Bank, within the term specified in the notice, the Bank shall not be liable for additional obligations incurred to the Customer under the US tax legislation due to the failure to provide the said form, in addition, the Bank has the right to provide the authorized service with any information and/or documentation related to the Customer kept with the Bank (including personal data, Bank accounts, financial transactions, etc.) in order to ensure the requirements specified in the FATCA or IGA agreement. In accordance with the purpose of the FATCA and requirements provided by the IGA: The Customer declares that the information provided by him/her to the Bank is true and correct; The Customer undertakes to: Give the Bank notice on any circumstances that may lead to a change in the information provided in the above forms, within 30 (thirty) calendar days from occurrence of such circumstances; Cooperate with the Bank. Before providing the information to the Bank, obtain all necessary permissions on the processing of personal data of persons about which provides the information to the Bank, under the rule stipulated by the Legislation. The Customer is responsible for any damage (loss), any action, expense, obligation that may be imposed to the Bank under the FATCA and IGA agreement, as a result of non-fulfillment of the obligations stipulated by the above-mentioned forms The Customer shall not, without prior written consent of the Bank, transfer to the Third Party liability assumed by it under the Agreement and/or Other agreement(s) associated thereto (including Annex(es)). 12 General Terms and Conditions of Bank Service 3.53. 3.54. 3.55. 3.55.1. 3.55.2. 3.55.3. 3.55.4. 3.56. 3.57. 3.58. 4. 4.1. 4.2. 4.3. 4.4. 4.5. 4.6. Refusal of the Bank excludes the possibility of any above indicated actions and accordingly any action exercised through breach of this rule is void and shall not bear legal consequences unless otherwise explicitly envisaged by the Legislation in particular cases. Furthermore, this provision does not imply the reservation that the Customer should personally perform obligations and does not exclude the right of the Bank to accept performance from the Third Party, notwithstanding the consent of the Customer. If the Customer is a minor and he / she is represented by a legal representative in the bank , the legal representative agrees in advance to pay commission fees, penalties (fines) and other payments that may arise in connection with the use of banking products / banking services. If the Customer uses an Overdraft and/or a credit card and at the same time, any kind of legal restrictions is fixed in the Customer 's name, regardless of what is indicated in the notice of debt and/or in the Extract and/or in any other type of documents, the restrictions will be extended to the amount placed on the Overdraft and/or credit card account after the stating of legal restrictions. The Сustomer is familiar with the information, that according to the rules of law of Deposit Insurance Systems, from January 1st 2018, the amount of the Deposit and/or the amount placed on all account of the Customer, in each commercial bank, is insured and will be reimbursed by the Deposit Insurance Agency, through the amount of 5 000 (five thousand) GEL, despite the number of deposits/accounts and the rest amount will be reimbursed according to the legislation. For more information visit the web-site of the Deposit Insurance Agency: www.diagency.ge. Therefore: In case covered incident occurs, the amounts existing on the Сustomer 's accounts (including in foreign currencies) in the same commercial bank will be summarized and the Deposit Insurance Agency will be charged up to 5 000 (five thousand) GEL and if the sum exceeds 5 000 (five thousand) GEL, the rest will be paid in accordance with the applicable Legislation; The amount of money on all the accounts of all natural persons in the commercial bank is automatically insured without additional payments; The Deposit Insurance Agency will give compensation within the period of 20 (twenty) calendar days from the date of insurance incident, regardless of whether the commercial bank has relevant funds; Paying Currency - GEL. In order to provide services to the Customer by the Bank and /or by other clients of the Bank, the Bank shall be authorized to provide the Customer and/or Third Party with the information on the Customer's Creditworthiness by the form and content defined by the Bank. The Bank is authorized, without the breach of the Legislation and in accordance with the rules and procedures defined by the Bank, for the purpose to process and perform the Transactions under the Customer's order, establish different amount of commission fees, taking into account the financial and human resources of the Bank. The Bank is authorized, without the breach of the Legislation and in accordance with the rules and procedures defined by the Bank, to work out the information (including personal data) provided by the Customer to the Bank in relation with the one Banking Product/Banking Service in case of any other use of the Banking Product/Banking Service by the Customer for the purpose to exercise the rights of the Bank. List of the Bank products: Account; Automatic Payments; Permanent Payment Order; Card; E-mail Banking; Internet Banking; 13 General Terms and Conditions of Bank Service 4.7. 4.8. 4.9. 4.10. 4.11. 4.12. 4.13. 4.14. 4.15. 4.16. 4.17. 4.18. 4.19. 4.20. 4.21. 4.22. Mobile Banking; SMS Banking; Tskapplication; Pay Sticker; Card Security Service; Credit; Card 3D security; Elva; Electronic Moneybox; Courier service; Telephone Banking; Card delivery service at the place of stay; Digipass; Standard Deposit (36, 48 or 60 months accumulative); Conversion of Money via the Electronic Trading Platform. QR PAYMENT. 5. 5.1. Rights and obligations of the parties In order to ensure the performance of the Agreement and/or Other Agreement Associated thereto, the Parties: have right to exercise in full and properly the rights provided by the Agreement, Other Agreement Associated Thereto and/or applicable Legislation; Are obliged to fulfill, in full and properly, the obligations provided by the Agreement, Other Agreement Associated Thereto and/or applicable Legislation. The Bank is entitled, at its discretion and unilaterally, without additional consent and acceptance of the Customer to: Completely or partially terminate and / or temporarily cancel Banking services, at any time, about of which the Bank will notify the Customer in accordance with the terms specified in the Agreement, though failure to fulfill aforesaid obligation by the Bank, will not be considered as a violation of the terms and conditions of the Agreement. Periodically seek information about Customer which may be kept in the Group Companies; Periodically transfer information about Customer to a the Group Companies; For the purpose of sending / delivering the relevant correspondence to the Customer, transfer to the courier service personal data of the Customer, the Customer's authorized representative, or other persons authorized to receive / accept correspondence sent to the Customer; Fully or partially, transfer / delegate the rights and obligations provided by the Agreement to a Third Party; Transfer any existing information related to the Customer (notwithstanding that this kind of information was received directly from the Customer or any other means) to the Third Party, for full and proper performance of Bank's obligations or for monitoring of fulfillment the obligations, taken under the Agreement by the Customer. Write off the funds from Customer's Account (s), used in order to ensure the requirement and dispose it to cover the relevant requirement; Send the Order details (whether the Order is executed or not) of the Customer and/or any data/information existing in the Bank to the Recipient, as well as to Any Third party which is/may be related to the fulfillment of the Order; 5.1.1. 5.1.2. 5.2. 5.2.1. 5.2.2. 5.2.3. 5.2.4. 5.2.5. 5.2.6. 5.2.7. 5.2.8. 14 General Terms and Conditions of Bank Service 5.2.9. 5.2.10. 5.2.11. 5.3. 5.3.1. 5.3.2. 5.4. 5.4.1. 6. 6.1. 6.1.1. 6.1.2. 6.1.3. 6.1.4. Provide law enforcement agencies or other Third Parties with information about the Customer or Banking products/Banking services related to the Customer if the Bank considers that providing such information will help to in avoid the occurrence of damage or its reimbursement; Use any communication channel to send the automatic voice notification in order to provide any kind of information to the Customer, including using a fixed telephone, if the fixed telephone number is provided in the application, submitted by the Customer to the Bank. The Bank is released from any kind of obligations, sending automatic voice notification, including with the help of a fixed telephone number, the consequence of which can be the transfer of information about the Customer to a third party. Keep the existing correspondence of the Customer with the Bank (both material and electronic) and telephone records. In addition, the Customer confirms that the data (information) determined by this clause may be used by the Bank as an evidence, it is the property of the Bank and has legal force. The Customer undertakes to: Use the required Banking Product/Banking Service (unless otherwise directly provided by the Banking Product/Service) at least once within 12 (twelve) months after submitting the Application to the Bank. If the Customer does not use the requested Banking Product/ Banking Service within the specified period, the Bank has the right to unilaterally terminate/suspend the relevant Banking Product/ Banking Service. Termination/suspension of one of the Banking Products/ Banking Service will not lead to termination/suspension of another Banking Product/ Banking Service. In addition, if only one Bank Product/ Banking Service remains in the use of the Customer, in case of its termination, the Bank is entitled to unilaterally terminate the Agreement ahead of schedule. If the information/data specified in the Application/submitted to the Bank in any form are changed, immediately notify the Bank in writing form about changes. For the avoidance of any doubt, the Bank will not be liable if the information fixed in the Application or provided to the Bank in any form does not correspond to the Customer's identification data and as a result the Customer cannot accept the Services provided by the Agreement or the confidentiality of information will be violated. Prior to giving notice on the relevant changes, any communication from the Bank regarding to available data will be treated as properly sent to the Customer and the Bank will not be liable for any possible violation of confidentiality of the information or caused damage/loss. The Customer has the right to: At any time and on the basis of the relevant Application, request the Bank to terminate the Banking product/Banking Service, if the Customer will not have any outstanding obligation (financial or any other obligation) towards the Bank as a result of usage the specific Bank product/ Banking Service. Representations and Warranties The Customer represents and warrants that: As of the moment of executing/signing the Agreement and/or Other Agreement Associated Thereto, he/she/it is/will be capable (including under the rule stipulated by the Legislation); He/she/it has obtained all necessary permits, approvals or proxies for the purpose of execution/signing and implementation of the Agreement and/or Other Agreement Associated Thereto; While providing Banking Service by the Bank, the information/data submitted/transferred by the Customer to the Bank is true, correct and complete; By carrying out the Operation no terms and conditions of other Agreements or other liabilities of the Customer (where applicable) or any legislation, provision, rule, order, judicial decision, decree, instruction, court decree or any restriction established by the state, state or regulatory, judicial or arbitration authorities to be met by the Customer will be breached. Carrying out the Operation under this Agreement will not resist or breach any agreement, contract, license or other agreement the Customer is a party to; 15 General Terms and Conditions of Bank Service 6.1.5. 6.1.6. 6.1.7. 6.1.8. 6.1.9. 6.1.10. 6.1.11. 6.1.12. 6.1.13. 6.1.13.1 6.1.13.2 6.1.13.3 6.2. 6.3. He / She will obtain all required consents, authorizations or power of attorneys for authorization that will be required in the future for concluding and fulfilling of the Annex and/or Other Agreements Associated Thereto; The Agreement and/or Other Agreement Associated Thereto are/will be executed by him/her/it voluntarily, without any violence, threat, cheating, misleading and/or any other circumstances on behalf of the Bank or the Third party; Execution and implementation of the Agreement and/or Other Agreement Associated Thereto does not/will not cause violation of those contractual, judiciary (including arbitration), legislative and/or other obligations which he/she/it is responsible for to fulfill; By the moment of executing/signing the Agreement and/or Other Agreement Associated Thereto, he/she/it does not participate in any dispute (as a plaintiff, defendant, third party or otherwise) which expose to danger his/her/its assets/property and/or performance of the terms of the Agreement and/or Other Agreement Associated Thereto; By the moment of executing/signing the Agreement and/or other Agreement Associated Thereto and for their entire effective term, his/her/its activities and/or actions comply/will comply with own charter and/or other regulatory document and local and/or international legislation; By the moment of executing/signing the Agreement and/or Other Agreement Associated Thereto and for their entire effective term, he/she/it fulfills/will fulfill the terms of any agreement and/or other covenants, and/or other commitments, disregard of which may have adverse effect on carrying out of obligations assumed by the Customer under the Agreement and/or Other Agreement Associated Thereto; His/her/its actions are/will not be intended to cheat the Bank. Taking into account this principle, the document and/or information submitted by him/her/it to the Bank for the purpose of execution and/or implementation of the Agreement and/or Other Agreement Associated Thereto, at the moment of submission, is/will be true, correct and complete. Also, he/she/it is aware that submission of false documents and/or information represents the punishable offence according to the Legislation; He/she/it is aware that the Bank’s policy strictly prohibits participation of a director, authorized person, representative, employee, other staff or related person and/or affiliated entity in such actions which stipulate offering or accepting of any valuable thing/non-material property (directly or indirectly) for the purpose of receiving benefit by any of the persons, Bank, related person and/or affiliated entity or its customer in order to unfairly acquire or retain business or other business-related advantage; Neither he/she/it (including his/her/its director, authorized person, representative, employee or other staff) nor person related to him/her/it and/or affiliated entity: Has not directly or indirectly paid or received (or has been involved in any deal which provides for the payment or receipt of) any illegal and/or hidden commission fee, bribe or compensation which may be related to the Agreement and/or Other Agreement Associated Thereto; and/or Has not offered or accepted any valuable thing/non-material property, which may have affected the actions of the Bank, its director, authorized person, representative, employee, other staff or related person and/or affiliated entity, and neither the above-mentioned persons have threatened his/her/its property or reputation in order to unfairly acquire business-related advantage, or do the business; and/or Was not otherwise involved in the corruptive activity. The Customer’s representations and warranties are effective until full and proper performance of the obligations assumed by the Parties under the Agreement and/or Other Agreement Associated Thereto, despite full or partial termination of the Agreement and/or Other Agreement Associated Thereto. The Customer will inform the Bank immediately in writing form with regard to all circumstance(s) which may be inconsistent with his/her/its above representations and warranties and/or cause their violation; Also, he/she/it will notify the Bank on any circumstances which may expose to danger the Customer’s assets/property and/or full and due performance by the Customer of obligations assumed under the Agreement and/or Other Agreement Associated Thereto. 16 General Terms and Conditions of Bank Service 6.3.1. 6.3.2. 6.3.3. 7. 7.1. 7.2. 7.3. 7.4. 7.5. 7.6. 7.6.1. The Parties declare and acknowledge that the Bank concludes/will conclude and fulfill the obligations under the Agreement and/or Other Agreement Associated Thereto only on the basis of the above representations and warranties of the Customer. The Customer will take all necessary measures to ensure that the persons related to him/her/it (including without limitation the Additional Card Holder(s)), during the term of this Agreement, will not take any actions violating the warranties included herein; In case of violation the abovementioned representations (not restricting the Bank’s right to claim for damages which may be caused by such violation of these warranties), if the Customer will not be able to eradicate the violation within ten (10) Banking Days upon receipt of the notification, the Customer agrees to reimburse and keep the Bank protected against any damages (including without limitation any consequential damages), claims, costs (including without limitation the costs incurred by the Bank to enforce its rights), legal proceedings and any other liabilities which may arise as a result of such violation. Liabilities of the parties Unless otherwise defined by the Agreement and / or Other Agreement Associated Thereto, The Customer agrees and represents that in the process of providing the service defined by the Banking Product, the Bank shall be fully relieved from any responsibility against the Customer (including of compensation of any direct or indirect damage (loss) which may be caused without the Bank’s guilty action. Neither of the Parties shall be held responsible for their failure to meet their obligations under the Agreement and/or Other Agreement Associated Thereto in full or partially, or for improper fulfillment their obligations during the Force Majeure circumstances. The Party claiming the existence of Force Majeure must notify another Party within reasonable period, but not later than in 5 (five) banking days about the relevant Force Majeure circumstance(s) and its (their) estimated duration, otherwise the Party may lose the right to rely on Force Majeure as an excuse for release from responsibility. If the Force Majeure circumstance(s) indicated in the notification does (do) not represent universally acknowledged facts (circumstances), or another Party challenges their certainty, in 30 (thirty) calendar days since the receipt by the respective Party of the Force Majeure circumstance(s) notification or since the receipt by the respective Party of the notification challenging the Force Majeure circumstance(s) certainty, the existence of the Force Majeure circumstance(s) shall be confirmed by an authorized body defined by the Legislation. If Force Majeure lasts for more than 30 (thirty) calendar days since the receipt by the respective Party of the notification about Force Majeure circumstance(s) or since the receipt of an conclusion of the duly authorized body confirming the existence of the Force Majeure circumstance(s), in 15 (fifteen) calendar days since the expiry of the above-mentioned term of 30 (thirty) calendar days the Parties shall make decision about the Agreement, otherwise the Agreement shall be deemed null and void. To ensure full and proper fulfillment of the obligations existing towards the Bank (including the Customer’s obligations that arose in a direct relationship with the Bank or the obligations that arose on the basis of a claim acquired by the Bank from a Third party) by the Customer and consequently, with the purpose to realize Bank’s rights and claims, the Bank is authorized, at its discretion, without further/additional consent and / or acceptance from and / or notification of the Customer: Not to fulfill any obligation towards the Customer, including not paying any payables to the Customer, which will considered (deducted) with corresponding amount, against the Customer’s obligation, including the payable to the Bank. The Bank is authorized to deduct the obligations even if the term of fulfilling one of the demands (Bank’s or Customer’s claim, respectively) has not occurred at the moment of carrying out deduction; and/or 17 General Terms and Conditions of Bank Service 7.6.2. 7.6.3. 7.6.3.1. 7.6.3.1.1. 7.6.3.1.2. 7.6.3.1.3. 7.6.4. 7.6.4.1. 7.6.4.2. 7.6.4.3. 7.6.4.4. 7.6.4.5. 7.7. 7.8. 7.9. To write off any payables, without acceptance, from any Account of the Customer and if the payable and the amount on the account of the Customer are in different currencies, the Bank shall carry out conversion at its exchange rate effective by the date of payment, write off, without acceptance, the fee for conversion service from the Account and use the converted amount to cover corresponding payable; and/or To allow Overdraft, without acceptance, in the amount of corresponding payable on any Account of the Customer for a maximum term of one year, in accordance with the rules and conditions of the Bank, and/or increase the amount of existing overdraft and use corresponding amounts to cover corresponding payables. For this purpose, the Customer explicitly and unconditionally confirms that: If by this time the Overdraft already is allowed on the Customer’s Account(s): (a) In such a case, the Bank is authorized to unilaterally (without a further consent of the Customer) increase the Overdraft limit in the amount of a corresponding payable; (b) Conditions set forth in the Overdraft agreement shall apply to the amounts expended within the limits of increased Overdraft; (c) In case of transferring amount(s) on the Customer’s Account, the amount of the Overdraft allowed will automatically decrease to the amount defined in the Overdraft agreement. If by this time the Overdraft is not allowed on Customer’s Account(s): In such a case, it is not necessary for the parties to sign the Overdraft agreement and / or any other document and the Bank is authorized to unilaterally allow the Overdraft on the Customer’s Account; The Overdraft will be allowed in the amount of corresponding payable; The amount expended within the limits of the Overdraft and paid to cover corresponding payable will be charged with the highest Interest Rate set in the Bank; The Overdraft will be allowed for three (3) months and the violation of the term of payment of used Overdraft amount will be the subject of fine in the amount of 0.5% (zero point five percent) of the unpaid amount for each day of delay; The Overdraft will be subject to other provisions of the Terms and Conditions. Taking into consideration that the Bank acts at the Customer’s Order when providing the Services, the Customer agrees to indemnify and hold the Bank harmless against any damages, losses, legal costs, claims of the Customer or any other third party (including, without limitation, the additional card holder(s)), actions or suits, as a result of which the Bank suffered damages or losses. Furthermore, the Customer shall indemnify and hold the Bank harmless against the damages arising from the use of the Banking Service stipulated by the Agreement (including, without limitation, the Remote Banking Services), or against the damages arising as a result of the operation carried out via such services (including, without limitation, the Remote Banking Services); the Customer acknowledges that the abovementioned Operations will be carried out in accordance with the Orders and Authorization received by the Bank under these Terms and Conditions and any other relevant special conditions, agreements, contracts or similar instruments. The Customer also agrees and confirms that the indemnification provisions shall stay in effect and binding upon the Customer even if the above Banking Services are cancelled either in full or in part; The Customer agrees to and declares that he/she might need to sign and fulfill additional agreements, statements or other similar documents on indemnification, in particular, with regard to the Operations which have been carried out via the Access Codes(s). Such additional agreements, statements and similar documents shall be added to and not exclude the indemnification provisions specified herein; Notwithstanding the provisions of the Agreement, the Bank shall not be liable towards the Customer for such damage or loss that directly or indirectly arose in connection with these Terms and Conditions. Notwithstanding mentioned above, the Bank excludes the existence of any liability for damage or loss, profit, business, income or loss of planned savings that are related Banking Service defined by the Agreement; 18 General Terms and Conditions of Bank Service 7.10. 7.11. 7.12. 7.13. 7.13.1. 7.13.2. 8. 8.1. 8.2. 8.3. 8.4. 9. 9.1. 9.2. The above-mentioned provisions on indemnification and limitation of liability shall apply to the Bank’s executives, directors, employees, representatives and agents, except the cases when the damages are caused by the negligence, neglect of official duties or deliberate actions or violation of the Terms and Conditions of the Agreement (including, without limitation, violation of these Terms and Conditions) by the Bank or the abovementioned persons; The Provisions of this Article shall stay in effect even if the services under this Agreement are terminated until the Parties will fulfill all obligations under this Agreement . The Parties will bear full responsibility for damages / loss, if such damage / loss arose as a result of violation of the rules established by the Legislation related to the payment instrument, as a result of deliberate acts or negligence of both Parties. In order to ensure full and proper fulfillment of the obligations under the Agreement and/or other Agreement Associated Thereto by the Customer, and accordingly in order to ensure the rights and requirements of the Bank, the Customer gives consent to the Bank's full rights: In case of several due payables, at its own discretion, to determine the sequence and order of payment of the loan and payables within its scope. Until full and proper repayment of any due payables provided by the Agreement or / and Other Agreement Associated Thereto, without acceptance and in compliance with rules of the Bank, block the Account (s) of any type of the Customer. Settlement Settlement between the Parties shall be carried out in cash and/or non-cash manner. Any kind of financial obligations defined by the Agreement must be fulfilled (paid) within 10 (ten) calendar days since the date of generation of financial obligation (since the overdue day of discharging the obligation, the day of requesting to meet the liability for the Fine, etc.) unless otherwise stipulated by the Agreement and/or Other Agreement Associated Thereto. At the same time, if the day of discharging the obligation (payment day) falls on a non-business day or a day off, the next Banking day shall be used. The settlement will be carried out in Georgian national currency according to the official rate established by the National Bank of Georgia on payment date, unless otherwise will be defined by Legislation . While making payment in non-cash manner, the funds must be enrolled on the Bank Account of a respective Party defined by Agreement and/or Other Agreement Associated Thereto or other bank account additionally agreed between the Parties. Communication between the Parties Unless otherwise specified by the Agreement or stipulated by the Legislation, all notifications and other information related to the Agreement shall be provided by the Bank to the Customer by means of any communication, including placement the information/notification on the Website www.bankofgeoagrgia.ge and/or service centers and/or by the currier, registered mail, fax, e-mail, as well as sending information/notification via remote channels to the address specified by the Customer in the Application or by other means of communication defined by the Bank. Any official communications between the Parties must carried out be in writing form, unless otherwise specified by the specific Banking Product/Banking Service. A written notice sent to the Party may be delivered personally or sent by courier (including international courier) or post (including insured post). For the operative purposes and taking into account the provisions outlined below, notice to another Party may be delivered through telegram, telex, fax, email, sms, Internet Bank or any other operative means established by the Bank, (including, when the sending Party is the Bank – by placing relevant information on the Website), provided that in case of sending a notice by the Customer to the Bank, the written notice will be delivered to the Bank in the reasonable time as well. 19 General Terms and Conditions of Bank Service 9.3. 9.3.1. 9.3.2. 9.4. 9.5. 9.6. 10. 10.1. 10.2. 10.2.1. 10.2.2. 10.2.3. 10.2.4. 10.3. 10.4. A notice will be deemed delivered on the delivery date if the recipient confirms such delivery (including through electronic document, receipt, other relevant means of communication, etc). If the receipt of a notice is not confirmed by the recipient, any such notice will be deemed duly sent and received: In case of sending a written notice or telegram by courier or insured post – (a) if a notice is sent by the Bank, within 3 (three) calendar days after sending, or on the date on confirmation of delivery (whichever occurs first); (b) if a notice is sent by the Customer, on the next Banking day of registering the notice at the chancellery of the Bank; In case of sending through fax, telex, email and/or other electronic means (including, when the sending party is the Bank – by placing relevant information on the Website) – (a) if a notice was sent by the Bank, on the next Banking day of sending a notice; (b) if a notice was sent by the Customer, as of the date of confirmation by the Bank of receiving a notice or as of the date of confirming receipt by means of exercising relevant action; A notice will be deemed received even in case the sending party receives back a notice due to absence of the receiving Party at the given address/contact data, the recipient refuses to accept the notice or avoids receiving a notice. The Parties will execute relationship at the addresses/contact data outlined in the Agreement and/or Other Agreement Associated Thereto (or at any other address which one Party will inform the other in writing). The Party is obliged to notify another Party in time about change of address/addresses or any of the data, otherwise communications carried out at the address provided by the Party (sending notices, etc.) shall be deemed duly performed. The Agreement may foresee carrying out communication through one of the specific forms of communication envisaged in paragraph 9.1 of the Agreement, or in a different form. Confidentiality The Parties are obliged to keep any kind of information received from the other Party confidential throughout the entire period of the Agreement and after completion of the contractual relations. The above mentioned limitation regarding to confidentiality will not refer to information or disclosure of information: Which was known without the breach of the Legislation to the information receiving Party prior to transfering information by another Party; Which will be disclosed by the Parties by adhering the requirements of the Legislation and for their due performance (including for exercising its rights by any of the Parties through the court (including arbitration court); Which may be obtained from other sources; Which will become available to the third party a) upon written agreement between the Parties, according to which the Party disclosing information will be fully responsible for keeping confidential the information received from the Third party b) independently by any of the Parties. The Bank is authorized to transfer information (including personal data) related to the Customer to the Third party for the purpose to execute the rights of the Bank as the result of failure to perform or duly perform the conditions of the Agreement and/or the Other Agreements Associated Thereto by the Customer, and/or for monitoring of fulfillment the conditions of the Agreement and/or Other Agreement Associated Thereto by the Customer. To the purpose of connection to the Third party the Bank is authorized to work out any information (including personal data) provided by the Customer to the Bank. Notwithstanding the restriction provided in Paragraph 10.1. of the General Terms and Conditions, the Customer grants the Bank the unconditional right, without the Customer’s additional consent/acceptance and without limiting the number of searches, seek the data about the Customer existing at the database of JSC Creditinfo Georgia (Identification code: 204470740) or any other institution with the similar functions which may be operated or be established under Georgian or any other jurisdiction and transfer 20 General Terms and Conditions of Bank Service 10.5. 10.6. 10.7. 10.8. 10.8.1. 10.8.2. 10.9. all information about the Customer’s positive and/or negative obligations (detailed terms and conditions of the disclosure of information on negative obligations for JSC "Creditinfo Georgia" is available on the web site: www.creditinfo.ge), including any changes and additions, to JSC Creditinfo Georgia or any other institution with the similar functions, that causes information about the Customer to be kept in the database of JSC Creditinfo Georgia or any other institution with the similar functions, the goal of which are: a) collection, reproduction and dissemination of the data about the Customer related to the current, discharged, non-fulfilled, overdue credit/loan or other financial obligation status; and b) analytical work out of the information protected in the database (including for check of creditworthiness/solvency of the Customer and/or other legitimate purpose). The Customer is aware, that: a) JSC "Creditinfo Georgia" is a credit bureau and is authorized to work out/reproduce and transfer Customer’s information/personal data to the third parties for the assessment, inspection of the Customer’s creditworthiness/solvency and/or other legitimate purpose; b) all information to be transferred to and received from JSC Creditinfo Georgia or any other institution with the similar functions, without any limitation, includes identification data of the Customer, also names and identification data of the major shareholders/founders and the authorized representatives of the Customer, grounds scope, purpose of the current debt, accrued interest, effective term, actual terms under which the Customer pays the debt, the debt balance, number and identification data of the collateral, and in case of existence of court (including arbitration court) litigation, the results of such court (including arbitration court) litigation or execution proceedings as well as other information needed for the database. The Customer agrees that, in accordance with the rules established by the Legislation, the Bank, for rendering one-time or repeatedly banking services for the Customer (directly or together with third parties) (as well as for full and due performance of liabilities imposed by the legislation within the scope of the said services) and within the said banking service, in order to ensure one-time and repeatedly fulfillment of obligations by the Customer in full and properly (including one-time and repeatedly receiving relevant information) and in size required for fulfillment of this goal, to use the database (including an electronic database)of JSC "Credit Info Georgia" or any other establishment with similar functions. In particular, one-time and repeatedly, to receive and apply information kept about the Customer (including personal data) required for the Bank, as well to provide Credit Info Georgia or any other institution with similar functions with information about the Customer (including personal data) one-time or repeatedly providing that this latter shall be authorized to transfer any information about the Customer provided by the Bank to Third Parties. Information about the Customer may be kept in the database of the Bank or the Group Companies and may can be used by the Bank or any of the Group Companies. The Information shall mean any kind of information which may be recieved and/or kept by the Bank or any of the Group Companies as a result of providing respective services to the Customer. The Bank may link the information related to the Customer’s Account(s) and the services used by the Customer with the information about other parties which the Customer has financial or similar relation with (in particular, the Additional Card Holders). The Bank is entitled, without additional, prior or further consent or acceptance of the Customer, to transfer Information: to the parties of the Agreement and/or other related agreement or of related security contracts/agreements (if any); to the Third Parties: a) for the execution the rights of the Bank rights in the event of non-performance or improper performance of the obligations by the Customer and/or to monitor the fulfillment of the Customer's obligations; b) Interested in buying/syndication Bank’s claims arising from the Agreement and/or any other related agreements and/or delegation of Customer's obligations. In order to receive certa Banking Services under this Agreement for the Customer, the disclosure of Information may be required to the party who provides services to JSC Bank of Georgia or/and other 21 General Terms and Conditions of Bank Service 10.10. 10.10.1. 10.10.2. 10.10.3. 10.10.4. 10.10.5. 10.11. 10.11.1. 10.11.2. 11. 11.1. Group Companies. In such case, the Bank must ensure that any party to whom the Bank will disclose the Information about the Customer, will keep the Information confidential similarly to the Bank. Measures against Money Laundering and Crime Prevention: The Customer acknowledges that the activity of both the Bank and the Group Companies is regulated by the Legislation of Georgia on Money Laundering and Crime Prevention. Therefore, the Bank and the Group Companies are obliged to identify the Customer and a source of income of the Customer before the Account of the Customer opened in the Bank will become active. If the Customer fails to give answers to all questions given in the application or fails to present any required information to the Bank, the Bank may reject the Customer’s Application on Banking Services. According to this Agreement, the Customer gives unconditional consent to the Bank to transfer the information about the Customer (especially, about international money transfers, recipient of the sums transferred from the Customer’s account or the sums transferred to the Customer’s Account) to the relevant authorities fighting against money laundering (both in Georgia and abroad) without giving prior notice to the Customer. Such information, without limitation, includes names and ID data of those persons, the Customer has financial contacts with (in particular, the additional cardholder(s)); In special cases, in consequence of crime prevention measures, the Customer’s order fulfillment and receiving money may be delayed, but as far as possible, the Bank will explain the Customer the causes of delay; Disclosure of information to the money laundering and crime prevention authorities will not be deemed as violation of confidentiality under the provisions defined herein; Neither the Bank nor the Group Companies will be liable for any direct or consequential damages suffered by the Customer (including, without limitation, lost income), resulted from the observance of such Legislation. The Bank is authorized, in order to provide single or multiple Banking Services to other Customers or single or multiple provision (including for monitoring) of full and proper fulfillment by other Customers of undertaken obligations and within the size required for implementation of this goal, to apply the Customer single or multiple time and accordingly to deliver or receive the information (including personal data) regarding any other person/Customer who is interested in its service. Customer declares its prior consent to provide the Bank with full powers: Work out the customer's personal data and/or any other information (Including transfer to other states and international organizations) by itself or through the data proccessor defined by the Law of Georgia on Personal Data Protection, in accordance with the requirements established by the legislation, received by the Bank during the use/consumption/offer of services and/or products provided to the customer by the Agreement, for conducting research to improve banking services / banking products or for the purposes of any other service/offer which may be made to the Customer by the Bank. The processing of personal data and/or the receipt of information is carried out in order to fulfill the rights and/or existing obligations provided by the contract and/or related to it by another contract and / or under the legislation, including when the Customer does not fulfills the obligations arising from the contract and / or related with it by another contract(s) in order to find the Customer and / or ensure that the Customer has fulfilled its obligations. Make video and/or photo recording, to ensure the identification and/or security of the customer, at any point (e) of the bank, its service center and/or in the partner organizations of the bank, including through an ATM, self-service terminal and etc. Claims and Disputes The Parties may present claims arising from the Agreement and/or Other Agreement Associated Thereto to each other in writing form and/or verbally. The Party receiving claim, is obliged to satisfy the claim fully or partially within 15 (fifteen) calendar days or notify the other Party in writing form and/or verbally on refusal to satisfy the claim. 22 General Terms and Conditions of Bank Service 11.2. 11.3. 11.4. 11.4.1. 11.4.2. 11.4.3. 11.4.4. 11.4.4.1. 11.4.4.2. 11.4.4.3. Any dispute arising regarding the Agreement and/or Other Agreement Associated Thereto (including the existence, interpretation, implementation and execution of the Agreement and/or other agreement associated thereto) will be solved through negotiations. In case of negotiation failure, the Parties shall apply to the court. Thereto, the Parties agree that the decision regarding the dispute made by the first instance court in favor of the Bank shall be immediately executed. Notwithstanding the provision outlined in Paragraph 11.2 of the General Terms and Conditions, in case the dispute between the Parties has not been yet sent to the court, the Bank is authorized at its own discretion to refer the disputed issue to the arbitration court according to the arbitration deal referred to in Paragraph 11.4 of the Agreement. In such case, the Customer fully and unconditionally agrees to the reservation regarding the arbitration court contained in this paragraph and gives consent that the dispute be resolved by the arbitration court. The Parties agree that in case of referring the disputed issue arising from the Agreement and/or Other Agreement Associated Thereto to the arbitration court according to the rule established in Paragraph 11.3 of the General Terms and Conditions: Disputed issue(s) shall be referred for discussion and final decision to the Permanent Arbitration court or its successor; Arbitration hearing shall be held in Georgia (Tbilisi), in the Georgian language, in consistent with the norms of Georgian legislation (Legislation) and according to a version of the regulation/charter of the Permanent Arbitration which will be in effect by the date of submitting the claim and shall not be fully or partially inconsistent with the arbitration deal outlined in this Paragraph, unless otherwise determined by the Agreement or otherwise defined by additional written agreement of the Parties; If the cost of the dispute subject does not exceed GEL 100,000 (one hundred thousand) or its equivalent in foreign currency (at the exchange rate established by the National Bank of Georgia as of the date of submitting the arbitration claim), the dispute between the Parties shall be processed by the arbitration court composed of 1 (one) arbitrator which is appointed by the Chairman of the Permanent Arbitration Court from the list of arbitrators of the Permanent Arbitration Court within 7 (seven) calendar days from submitting the arbitration claim; If the amount of dispute exceeds GEL 100, 000 (one hundred thousand) or its equivalent in foreign currency (at the exchange rate established by the National Bank of Georgia as of the date of submitting the arbitration claim), the dispute shall be processed by the arbitration court comprised of 3 (three) arbitrators appointed from the list of arbitrators of the Permanent Arbitration Court, one appointed by each Party according to regulation/charter of the Permanent arbitration and the third – by the Chairman of the Permanent Arbitration Court. Furthermore: A claimant appoints the arbitrator within 7 (seven) calendar days after receiving the arbitration claim by the court and a defendant - within 7 (seven) calendar days after transferring the arbitration claim to him/her/it (if the defendant is represented by more than one person, term shall be counted from the date following the day of delivery of the claim to any of them (the earliest shall be considered)). If more than one person take part in the arbitration case hearing from any party, they shall jointly enjoy the right of appointing the arbitrator; The Parties shall grant the right to appoint the third arbitrator, who will be the Chairman of the arbitration court at the same time, to the Chairman of the Permanent Arbitration Court who appoints the arbitrator within 7 (seven) days after receiving the arbitration claim; If any of the Parties does not appoint arbitrator within the time set in Sub-paragraph 10.4.4.1 of the General Terms and Conditions, it will be deemed that such Party rejects the right to appoint the arbitrator and thus transfers such right to the Chairman of the Permanent Arbitration Court. In such case the Chairman of the Permanent Arbitration Court shall appoint an arbitrator from the list of arbitrators of the Permanent Arbitration Court, within 7 (seven) days after the date of appointing the arbitrator by the relevant Party expires. 23 General Terms and Conditions of Bank Service 11.4.5. By the time of appointing an arbitrator according to the terms of the Sub-paragraphs 11.4.3 and 11.4.4 of the General Terms and Conditions, the relevant Party shall submit to the Permanent Arbitration Court written consent of the candidate; 11.4.6. In case of impossibility to perform obligations for any reason, the authority of the arbitrator shall be terminated upon his/her own application or by the Chairman of the Permanent Arbitration Court at own initiative or upon justified written application of one of the Parties; 11.4.7. A Party which intends to waiver the arbitrator is required to submit written application on waiver to the Chairman of the Permanent Arbitration Court and the arbitrators within 7 (seven) calendar days after the day it became known to such Party that such arbitrator was appointed or any other circumstances envisaged by the Legislation which can serve as a basis for such waiver. The application should state the reasons and motives of waiver. If the arbitrator under consideration does not self-waive the right or if the other Party disproves such waiver within 7 (seven) calendar days after submission of the application on waiver of the right, in such case the issue shall be considered by the Chairman of the Permanent Arbitration Court within 7 (seven) days after expiry of this term. Such decision of the Chairman of the Permanent Arbitration Court is final and is not subject to further claiming and the Parties agree not to address a court to waive the arbitrator; 11.4.8. Within 7 (seven) calendar days after termination of the authority of the arbitrator or waiver/self-waiver, the Chairman of the Permanent Arbitration Court shall appoint the arbitrator from the list of arbitrators of the Permanent Arbitration Court; 11.4.9. Prior to hearing the case by the arbitration court or at any stage of hearing prior to final litigation, the Party may solicit the Chairman of the Permanent Arbitration Court to apply the arbitration claim enforcement measures. Such enforcement measures applied by the Chairman of the Permanent Arbitration Court are mandatory and should be enforced on the basis of the executive order issued by the Chairman of the Permanent Arbitration Court. Based on the above condition, the Parties agree that there is no need to apply to court for execution of mandatory enforcement measures and acknowledgement of such measures by court; 11.4.10. Arbitration case hearing shall start as of the moment of submitting the arbitration claim to the defendant; 11.4.11. If the amount of the dispute object does not exceed: 11.4.11.1. GEL 50,000 (fifty thousand) or its equivalent in foreign currency (at the exchange rate established by the National Bank of Georgia as of the date of submitting the arbitration claim) and the dispute is processed by the arbitration court composed of 1 (one) arbitrator, the arbitration court shall proceed with the case without hearing; 11.4.11.2. GEL 200,000 (two hundred thousand) or its equivalent in foreign currency (at the exchange rate established by the National Bank of Georgia as of the date of submitting the arbitration claim) and the dispute is processed by the arbitration court composed of 3 (three) arbitrators, the arbitration court shall proceed with the case without hearing. 11.4.12. Arbitration fee or other payments associated with the arbitration as well as expenses shall be borne/compensated by the losing Party. 11.4.13. A defendant is entitled to file a counter claim against the arbitration claim within 7 (seven) calendar days after receiving the arbitration claim. After expiry of such date without any results, it will be deemed that the defendant refused the counter claim. 11.4.14. Arbitration adjudication shall be made within 30 (thirty) calendar days after commencement of the arbitration case hearing. If necessary, this term may be extended to the reasonable term not exceeding the term established by the Legislation. The arbitration adjudication comes into effect as of the moment of its issuance. The Chairman of the arbitration court within 5 (five) banking days after making decision, which shall contain the motivation part together with other mandatory components, shall deliver the decision to the Chairman of the Permanent Arbitration Court and such decision shall be given to the Party upon its written or verbal request. 24 General Terms and Conditions of Bank Service 11.4.15. Each Party is entitled to require from the arbitration court within 10 (ten) calendar days after receiving arbitration decision but not later than within 30 (thirty) calendar days after making arbitration decision, to: 11.4.15.1. rectify an error made in the calculations of the arbitration decision, typing or other similar errors; 11.4.15.2. give clarification with regard to any particular issue of the arbitration decision or with regard to any part of this decision; 11.4.15.3. Make additional decision with regard to the requirements which were stated in the course of arbitration hearing, but were not reflected in the decision. 11.4.16. All communications between the Parties, Permanent Arbitration Court and arbitration court shall be held through the chancellery of the Permanent Arbitration Court. 11.4.17. The rules of hearing arbitration dispute and procedural issues on making arbitration decision which are not regulated neither by the Agreement nor the regulation/charter of the Permanent Arbitration Court or the Legislation, shall be resolved by the Chairman of the Permanent Arbitration Court, and after establishment of the arbitration court – by the arbitration court. 12. 12.1. 12.2. 12.2.1. 12.2.2. 12.2.3. 12.3. 12.4. 12.5. 12.6. 12.7. 12.7.1. 12.7.2. 12.7.3. Effectiveness and Termination of the Agreement The Agreement becomes effective since the moment of its executing/signing by the Parties and stays effective until full and proper fulfillment of obligations by the Parties. In cases and under the terms defined by the Agreement, Other Agreement Associated Thereto and/or the Legislation, early termination of the Agreement and/or Other Agreement Associated Thereto, in full or partially, is possible: on the basis of notice sent at any time by the Bank to the Customer, 30 (thirty) calendar days prior; upon written Agreement of the Parties; in other cases defined by the Agreement, Other Agreement Associated Thereto and/or Legislation. If the Customer decides unilaterally to terminate in full or partially the Agreement, he/she/it shall notify in writing form the Bank about the made decision, its basis and the date of its becoming effective, which must not be less than 30 (thirty) calendar days. The Customer acknowledges and agrees that the Agreement is not terminated until the Customer terminates such continuing operations (including permanent payment order, repeating operations and continuing authorization issued by the Customer to the goods or service provider and which involves the regular charging his/her/its accounts for required amounts) related to the Customer’s Account(s). In case stipulated by the sub-paragraph 13.1.2 the Customer has the right to terminate the agreement immediately and in case of disagreement of the Customer to Modifications / Amendments, the Bank is entitled to terminate the agreement after coming effect of such Modifications / Amendments, at any time. Termination of the Agreement and/or other Agreement Associated Thereto in full or partially does not relieve the Customer from fulfillment (payment) in full and properly of obligations assumed under the Agreement and/or other Agreement Associated Thereto and/or the obligations established by the Legislation before the moment of compulsory or voluntary enforcement of such obligation. If the Bank and/or the Customer decide to terminate any service of Banking Product, the agreement in this respect will remain valid for the mentioned Banking Product only. In case of termination of the Agreement: All Cards must be returned to the Bank. All access codes must be cancelled. The Customer is obliged to pay all amounts due under this Agreement to the Bank (including without limitation taxes, commission fees, overdrafts/unauthorized overdrafts, amounts credited on the account) as soon as possible. 25 General Terms and Conditions of Bank Service 13. 13.1. 13.1.1. 13.1.2. 13.2. 14. 14.1. 14.2. 14.3. 14.4. 14.5. 14.6. 14.7. 14.8. Modifications and Amendments The Bank is authorized to change Terms and Conditions of the Agreement and/or any condition of any Banking Product (including but not limited amount/volume of any Banking Product, the period of validity and/or amount/volume of the Commission fee, interest rate, payment, penalty and/or other duties and/or charging rules of it and/or payment date) at any time, without further consent or acceptance of the Customer, by placing relevant information on the Website and/or through other means acceptable to the Bank, unless otherwise is defined by the Legislation. Such change is mandatory for the Customer from the Banking Day following the day of its publishing, unless otherwise is defined by the Bank and/or the Legislation. Also, the changes above may deal with the Person, target group of the Persons. In case the modification/amendment is carried out in favor of the Customer and/or does not change to worth the Customer's status and / or the modification / amendment concerns a new payment service that does not replace and / or change the payment service stipulated by the agreement, the Bank is not obliged to notify the Customer about this kind of modification/amendment. If the Legislation stipulates a notice prior to the effective date of the modification/amendment, any such modification/amendment will be deemed as agreed with the Customer, unless the Customer notifies the Bank of its disagreement with the modification/amendment. Amendments and modifications introduced to the Agreement represent an Annex and integral part of the Agreement. Other Conditions The Parties confirm that the contents of the Agreement explicitly expresses the will of the Parties and that the expression of such will occurred as a result of reasonable judgment of the contents of the Agreement and not solely based on literary meaning. Each and every right which is granted to the Party as a result of breach by the other Party of the Agreement, other Agreement Associated Thereto and/or full or partial breach of the Legislation is collective and shall be added to all other rights granted by the Agreement, Other Agreement Associated Thereto and/or the Legislation. No usage by a Party of the rights granted by one of the Parties to the other with regard to full or partial breach of the Agreement, Other Agreement Associated Thereto and/or Legislation shall not apply to any subsequent breach of the Agreement, Other Agreement Associated Thereto and/or Legislation. Annulment of any of the article(s), paragraph(s) and/or sub-paragraph(s) of the Agreement and/or Other Agreement Associated Thereto will not cause annulment of other paragraph(s) and/or sub-paragraph(s) of the Agreement and/or Other Agreement Associated Thereto. Instead of annulled provision, other provision will be used which will allow easier achievement of the goal envisaged by the Agreement and/or Other Agreement Associated Thereto (including by annulled provision). Words used in singular in the Agreement and/or Other Agreement Associated Thereto imply plural and vice versa, as the context may require. Articles, paragraphs and or sub-paragraphs of the Agreement and/or Other Agreement Associated Thereto are numbered and titled for convenience and this fact has no significance for the purposes of interpretation of the Agreement and/or Other Agreement Associated Thereto. Highlighted text in the Agreement and/or Other Agreement Associated Thereto is given for setting off the terms, for convenience only, and this fact has no significance for the purposes of interpretation of the Agreement and/or Other Agreement Associated Thereto. Article(s), paragraph(s) and sub-paragraph(s) of the Agreement fully apply to the Annex of the Agreement and Other Agreements Associated Thereto. Furthermore, in case of controversy between the terms of the Agreement, Annex to the Agreement or Other Agreement Associated Thereto, the terms of such Annex 26 General Terms and Conditions of Bank Service 14.9. 14.10. 14.11. 14.12. and Other Agreements shall prevail with regard to the issues regulated by such Annex or Other Agreement Associated Thereto. The Agreement and/or Other Agreement Associated Thereto with their liabilities and benefits are applied and mandatory to the legal successors/assignees of the Parties, unless otherwise envisaged by the Legislation, taking into consideration the contents of the Agreement and/or Other Agreement Associated Thereto and/or its/their article(s), paragraph(s) and sub-paragraph(s). The Customer is not authorized, without prior written consent of the Bank, transfer or delegate the obligations assumed or the rights granted to him/her/it under the Agreement and/or Other Agreement Associated Thereto (including Annex) to the third party. Refusal of the Bank excludes the possibility of any above indicated actions and accordingly any action exercised through breach of this rule is void and will not bear legal consequences unless otherwise explicitly determined by the Legislation in particular cases. Furthermore, this provision does not exclude the right of the Bank to accept performance from the Third Party, notwithstanding the consent of the Customer. The Agreement is interpreted and regulated according to the Legislation. The cases that are not defined by the Agreement and/or Other Agreement Associated Thereto, the Parties shall adhere to the norms established by the Legislation regulating relevant relationships and/or additionally agreed terms. The Agreement and/or Other Agreement Associated Thereto are made in the Georgian language. If the Customer does not understand Georgian and/or its writing, or the Parties or one of the Parties’ wishes, then Agreement and/or Other Agreement Associated Thereto may be drawn up and concluded in other languages acceptable to the Parties. When interpreting the Agreement and/or Other Agreement Associated Thereto, the Georgian version shall prevail. These norms also apply to the relations between the Customer and the Bank and/or design or interpretation of the Agreement and/or Other Agreements Associated thereto or any other document. 27