business online banking€¦ · corporate identification, user identification, password, one time...

BUSINESS ONLINE BANKING TERMS & CONDITIONS

I. Registration:

a) InordertoavailoftheOnlineBankingServicescustomersoftheBankarerequiredtofirstsubmitthedulycompletedOnlineBankingApplicationForm(alongwiththerequireddocumentsspecifiedbytheBankfromtimetotime)toanyoftheBank’sbranchesorrelationshipmanagers.

b) OnceanOnlineBankingApplicationFormhasbeenprocessedandapprovedbytheBank,theCustomerwilleithercollectitsLoginCredentialsfromtheBankortheLoginCredentialswillbesenttotheCustomer,dependingontheprocessspecifiedbytheBankfromtimetotime.LoginCredentialsmustbecollectedbyCustomerswithin30daysofapplyingfortheOnlineBankingServices;otherwisetheissuedLoginCredentialsmaynolongerfunction.

II. Eligibility:

a) AnycorporatecustomerthatmaintainsanoperatingaccountwiththeBankmayapplytousetheOnlineBankingServices.

b) TheAuthorizedSignatorymusthavetheappropriatepowerstosignandoperatetheAccountsolelyorotherwise.

TheBankreservestherighttoacceptorrejectanyapplicationtousetheOnlineBankingservices.

DEFINITIONS:

CapitalizedtermsusedinintheseTermsandConditionsandnototherwisedefinedhereinshallhavethemeaninggiventothemintheTermsandConditionsofAccountOpening&Operation.IntheseTermsandConditions,unlessthecontextotherwiserequires,thefollowingwordsandexpressionsshallhavethefollowingmeanings:

Accountmeansanyaccountopened,maintainedandoperatedbytheCustomerwiththeBank.

Authorized SignatorymeansanypersonwhohasbeenauthorizedbytheCustomerthroughdulyexecutedandvalidmandate,powerofattorney,partnerresolution,board/shareholder’sresolutionorbymemorandumandarticlesofassociationtosign,maintainandoperatetheAccountonbehalfoftheCustomer,asidentifiedintheBUSINESSONLINEBANKINGMandatefromtimetotime.

BankmeansNationalBankofBahrainB.S.C.

Beneficiarymeansanyindividualorentity(includingbutnotlimitedtoacompany,Government,Quasi-Governmentalentity,club,society,incorporatedorunincorporatedassociation,trust,soletrader,individualorotherentity)towhomtheCustomerissendingapaymentormakingaFundsTransfer.

Business Daymeansaday(excludingFridayorSaturday,publicholidaysdeclaredbytheCBB/BahrainGovernmentortheBank)onwhichbanksareopenforgeneralbusinessinBahrain.

CBBmeansCentralBankofBahrain.

Chargesmeansallamountspayable(includingcommission,feesandcharges)bytheCustomerinconnectionwiththeuseoftheOnlineBankingServicesincluding,withoutlimitation,allTransactionfees,financialcharges,additionalexpenses,damages,legalcostsanddisbursements,whichwillbedebitedfromtheAccount.

BUSINESS ONLINE BANKING MandatemeansthemandateformtobecompletedbyaCustomerpriortoaccessingtheOnlineBankingServices.

Communicationmeansanynotices,documents,applicationforms,information,helpfiles,on-screenhelputilities,textmessagesoranyotherguidelinesinanymediumissuedbytheBanktotheCustomerorpublishedontheCorporatePortalfromtime-to-time,relatingtotheOnlineBankingServices.

Corporate PortalmeansthewebsitethroughwhichaCustomermayaccesstheOnlineBankingServices,namelyhttps://corporate.nbbonline.com/corp/BANKAWAY?Action.CorpUser.Init.001=Y&AppSignonBankId=NBB&AppType=corporate&AppCorpLangId=001

Customermeansacompany,Government,Quasi-Governmentalentity,club,society,incorporatedorunincorporatedassociationholdinganAccountwiththeBankinitsnameandwhichhasbeenauthorizedbytheBanktooperateanAccountanduse theOnlineBankingServices.

Licensed by CBB as a Conventional Retail Bank Page 6 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

Cut-off TimemeansthelatesttimebeforewhichaCustomerinitiatedservicerequestorFundsTransferrequestwillbeacceptedforprocessingoneachBusinessDayasstipulatedbytheBank,fromtimetotime.TheBankreservestherighttodeemallrequestsreceivedaftertheCut-offTimeoronanon-BusinessDay,asrequestsreceivedonthenextBusinessDay.

Financial TransactionmeansuseoftheOnlineBankingServicesforanyfunctionorservicesprovidedbytheBankcausingamovementoffundsinanAccount.

Funds TransfermeansamovementoffundsbetweenAccounts,toanaccountheldbyathirdpartywiththeBank,ortoanaccountheldwithanotherbankeitherwithinBahrainoroutsideBahrain.

InstructionsmeansanyrequestorinstructionsfromtheCustomeroraUsertotheBankinconnectionwiththeuseofOnlineBankingServices,receivedintheBank’sspecifiedformat.

Intellectual PropertymeansintellectualpropertyrightsinconnectionwiththeOnlineBankingServicesincludingbutnotlimitedtoallstatutoryandotherproprietaryrightsinrespectofallintellectualpropertyincludingalltrademarks,technicalinformation,processcontroltechnology,databaserights,informationtechnology,rightsattachedtosoftware,patents,patentapplications,logosanddevices,confidentialinformation,tradesecrets,designrights,copyrightandanyotherrightsoflikenature(whetherregisteredorunregistered).

LimitsmeanstheTransactionlimits(whichmayvarybyTransactiontype),periodiclimitsandUserlimitsstatedintheBUSINESSONLINEBANKINGMandate,asmaybeincreasedorreducedbytheBankinitabsolutediscretionfromtimetotime.

Login CredentialsmeansfactorsrequiredforloggingintouseOnlineBankingServiceswhichwillincludetheCustomer’scorporateidentification,Useridentification,password,onetimepasswords,mobilepersonalidentificationnumbersetc.

Non-Financial TransactionsmeansusageofanyfunctionorservicesprovidedbytheBankundertheOnlineBankingServices,relatingtotheAccountand/orotherbusinessactivitieswiththeBank,whichdonotcreateanyfinancialmovementontheAccount.

Online Banking Application FormmeanstheapplicationformthatmustbedulycompletedandsubmittedtotheBankbytheCustomerwhenapplyingfortheOnlineBankingServices.

Online Banking ServicesmeansanyoralltheonlinebankingfunctionsandonlinebankingfacilitiesprovidedbytheBanktoCustomersfromtimetotime,includingbutnotlimitedto,FundsTransfer.

Online DisclaimermeanstheBank’sOnlineDisclaimerandPrivacyPolicy,acopyofwhichisavailableontheCorporatePortalloginpage.

Pay BillsmeansaserviceprovidedtotheCustomer,whichenablestheCustomertomakeutilitybillpaymentsfromtheirAccounttoSpecifiedEntitiesinBahrain.

Privacy PolicymeanstheBank’sprivacypolicydocument,acopyofwhichisavailableattheCorporatePortalloginpage.

Referencesto“we”,“us”and“our”asappropriatearereferencestotheBankandReferencesto“you”and“your”asappropriatearereferencestotheCustomer.

Service ProvidermeansanyserviceproviderassistingtheBankinprovidingtheOnlineBankingServicesoranyrelatedservicestotheCustomer.

Specified EntitiesmeansinrelationtothePayBillsserviceprovidedtoCustomers,approvedthirdpartyPayBillspaymentbeneficiariessuchasBatelco,Zain,BahrainElectricityandWaterAuthority,e-governmentoranyotherthirdpartyentityapprovedbytheBankfromtimetotime,thedetailsofwhichareavailableonthePayBillsservicepageoftheCorporatePortal.

Statement of AccountmeanstheBank’speriodicstatementsenttotheCustomer,showingparticularsoftheTransactionsconductedundertheAccountduringacertainperiodthroughallchannels,includingtheOnlineBankingServices.

Transactionmeansany/allFinancialTransactionsandNon-FinancialTransactionsavailablethroughthedifferentchannelsprovidedbytheBankincludingtheOnlineBankingServices.

UsersmeansanindividualdulyappointedandauthorizedbytheCustomertohaveadministrativeaccesstoanduseoftheOnlineBankingServicesonbehalfoftheCustomerinaccordancewiththeOnlineBankingApplicationForm,theBUSINESSONLINEBANKINGMandateoranyprocedures/requirementsasnotifiedbytheBanktotheCustomerfromtime-to-time.

Licensed by CBB as a Conventional Retail Bank Page 7 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

Interpretation:

a) ReferencestoArticles,ClausesandSchedulesarereferencestoArticles,ClausesandSchedulesoftheseTermsandConditions,whichshallbeconstruedaccordinglyandshallconstituteanintegralpartoftheseTermsandConditions.

b) TheheadingsintheseTermsandConditionsareinsertedforconveniencepurposesonlyandshallnotaffecttheconstructionoftheseTermsandConditions.

c) Exceptwherethecontextotherwiserequireswordsdenotingthesingularshallincludethepluralandviceversa,wordsdenotingagendershallincludeeverygenderandreferencetopersonsshallincludebodiescorporateandunincorporated.

d) Anyreferencetoapersonincludesanyindividual,Company,partnershipfirm,corporationorotherlegalentity,whatsoever.

e) AllreferencesintheseTermsandConditionstoatimerefertothetimeinBahrain,irrespectiveofthetimezonefromwhichtheTransactionisinitiatedbytheCustomer.

TERMS AND CONDITIONS

TheseTermsandConditionstogetherwiththeOnlineBankingApplicationForm,OnlineDisclaimersetouttheagreementbetweentheBankandtheCustomerinrelationtotheOnlineBankingServicesandshallbereadinconjunctionwiththeTermsandConditionsofAccountOpening&Operation.

IntheeventofanyconflictbetweentheseTermsandConditionsandtheTermsandConditionsofAccountOpening&Operationand/orthetermsandconditionsofanyotherproductprovidedbytheBanktotheCustomer(forexampleinrespectofremittances;SWIFTtransfers,beneficiaryuploads,lettersofcredit,lettersofguarantee,salaryprocessing,billpayments,accountsweep,accountopening,etc.),thetermssetoutintheTermsandConditionsofAccountOpening&Operationorthetermsandconditionsoftherelevantotherproduct(asapplicable)shallprevail.ByusingtheOnlineBankingServicesforthefirsttimeCustomersshallbedeemedtohavecarefullyread,understoodandacceptedtheseTermsandConditionsandagreedtobeboundhereby.IfaCustomerdoesnotacceptandagreetoalloftheseTermsandConditions,theCustomerisnotpermitted toaccessoruseOnlineBankingServices.

GENERAL CONDITIONS FOR USE OF ONLINE BANKING SERVICES

1. TheCustomerirrevocablyandunconditionallyacceptsthatanyTransactionand/orInstructionmadeorgiventhroughtheOnlineBankingServiceswillbeentirelyattheCustomer’sownriskandresponsibility.TheBank’srecordofanyTransactionorInstructionprocessedinconnectionwithOnlineBankingServiceswillbebindingandconclusiveevidenceofsuchTransactionorInstructionforallpurposes.

TheCustomermayrequestthattheBankprovidesaccesstotheOnlineBankingServicestotheUsers.SuchUsers,ifpermittedbytheBank,mayviewandprintalldetailsoftheCustomer’srelationshipwiththeBank,whichmaybeavailableintheOnlineBankingServicesfromtimetotime.TheCustomeracceptstheresponsibilityandliabilityfordisclosureofinformationtosuchUserandtoactsofsuchUserinhandlingtheinformationsoobtained.

2. TheCustomeragreesthatallsecuritypracticesandcontrolsusedandimplementedbytheBankarereasonableandadequate.TheCustomershallsafeguardandensurethatthesecuritypracticesarekeptsecretatalltimesandshalldiligentlysafeguardfromdisclosuretoand/orusebyanyotherperson(s),theirLoginCredentials,oranyotherauthenticationmethods/devices,nottobedisclosedtoanythirdpartiesorunauthorizedpersonnel.TheCustomerundertakes,andundertakestoensurethatanyUserundertakes:

2.1. TokeeptheirLoginCredentialssecureandtomemorizetheirLoginCredentialsanddestroyanynotificationcontainingtheirLoginCredentials(printedorotherwise)assoonaspossibleafterreceivingit.

2.2. ToadheretotherestrictionsforusageoftheLoginCredentialsand/oranyotherauthenticationmethods/devicesasnotifiedbytheBankfromtime.

2.3. Totakeallprecautionstokeepallrelateddevicesandservicessuchasmobilephones,emailaccountsetc.securebytakingappropriatesecurityprecautionsincluding,butnotlimitedto,passwordprotectingtheirmobilephone,maintainingstrongpasswords,lockingtheirmobilephoneatalltimesandloggingoutofemailapplications.

3. TheCustomerunderstandsandagreesthathewillbesolelyresponsibleforrisksandlossesarisingouthisactionsinnotadheringtotheundertakingscontainedinClause2above.

Licensed by CBB as a Conventional Retail Bank Page 8 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

4. TheCustomerwillhaveaccesstotheBank’snetwork24hoursperday/7daysperweek,withtheexceptionofanyplannedorunexpectedshutdownsduringoperatingandnon-operatinghours.TheCustomeracknowledgesthatsuchshutdownsmayresultineitherpartialornoaccesstotheOnlineBankingServices.TheBankreservestherighttorecordinitsinformationsystemsalldataconcerninganycommunicationoractionrelatingtoanyTransactions.TheBankwillusereasonableendeavorstoexecuteInstructionsassoonasthesearereceivedfromtheCustomerandacceptedbytheBank’sinformationsystemsbutdoesnotguaranteeanyindicatedturnaroundtime.ThedateandcontentofeachInstructionwillbeverifiedbyanymeansavailabletotheBank.

IfaUserusestheOnlineBankingServicesinviolationoftheBUSINESSONLINEBANKINGMandate,theBankshallnotbeliableinanywayforexecutingTransactionsthathavebeenauthorizedbytheCustomerontheOnlineBankingServices.FurthertheCustomerfullyunderstandsandagreesthatheshallberesponsibleforanyerrors/omissionsarisingoutofincorrectsetupoftheauthorizationrulesbytheCustomeroraUser.

5. Daily Limits on Funds Transfer & Payments:

5.1. TheCustomeragreesthatallTransactionswillbesubjecttotheLimits.TheBankherebyreservestheright,actinginitssolediscretion,toamendanyLimitatanytimewithoutnoticetotheCustomer.

5.2. ThecumulativesumofallFundsTransfersandTransactionsonanygivendayshallnotexceedtheapplicableLimitforthatday.TheCustomerwillnotmakeanyindividualFundsTransferorenterintoanyindividualTransactioninexcessoftheapplicableLimit.

6. Cut-offs for Transactions and service request:TheBankwillusereasonableendeavorstoprocessTransactions/servicerequestsreceivedbytheBankbeforethespecifiedCut-offTime.ApplicationsforaTransactions/servicerequestreceivedaftersuchCut-offTimewillbeprocessedonthenextBusinessDay.AllCut-offTimesarewithreferencetoBahraintime,irrespectiveofthegeographicallocationfromwhichtheCustomerhasinputtheInstructions.

7. SWIFT Transfers:

a) ItisunderstoodthatSWIFTmessagesaresententirelyattheCustomer’sownrisk.TheCustomeragreestofullyindemnifytheBankandholdtheBankharmlessagainstanyandallactions,proceedings,liability,costs,charges,lossordamages(includinglegalcosts)itmaysufferasaresultoftheBankacting,delayingorrefrainingfromactinguponthesaidInstruction(s).NeithertheBanknortheBank’soverseascorrespondentsshallbeliableforanyloss,delayorerrorwhichmayoccurinthetransmissionofthemessageormisinterpretationofamessagewhenreceived,orforanydelaycausedbytheclearingsystemofthecountryinwhichthepaymentistobemade.TheBankisnotliableforanyactofdefaultornegligencebytheBeneficiary’sbankincollectingtheremittance.InnoeventshalltheBankunderanycircumstancesbeliableforanylossofprofits,contractsorspecial,indirectorconsequentiallossordamages.

b) IntheabsenceofspecificInstructions,allcharges/commissionsappliedoutsideBahrainarefortheBeneficiary’saccount.TheBeneficiarymaybeunabletoobtainfullvalueunderatelegraphictransferonaccountofexchangeorotherrestrictionsapplicableinthecountryofpaymentortothepayingbankincludingchargesandfeesifany.

c) Ifthecircumstancesrequire,theBankreservestherighttosendSWIFTtransfersthroughadifferentplaceotherthantheonespecifiedbytheCustomer.

d) SuccessfulreceiptofaFundsTransferbyaBeneficiarywillbesubjecttoanyexchangecontrolorotherrestrictionswhichmaybeimposedbytherulesandregulationsofthecountrywheretheencashmentistobemade.NeithertheBank,norcorrespondents,noragentsshallbeliableforanylossordelaycausedbyanysuchrulesandregulations.

e) TheBeneficiary’sbankBICCode/SortCode/FedwireID/CHIPSUIDoranyothersuchcodeprovidedbytheCustomerwillbeconsideredascorrectandtheFundsTransferwilltakeeffectaccordingly,assumingcorrectnessofthegivencodes.

f) TheBankreservestherighttoreviseanyChargesfromtimetotimewithoutpriornotice.IfInstructionsaresubmittedviatheOnlineBankingServices,theBankmayactuponsuchInstructionsandpresumethattheyaregenuineandaccuratelyrepresenttherequirementsoftheCustomer,regardlessofwhethertheInstructionsareactuallycompiledorsentinerror,byfraud,negligence,alteredoramendedbysomeoneotherthantheCustomerwithorwithouttheactualknowledgeoftheCustomer.TheBankhasnodutytoverifythefactsorauthenticityofanyInstructions.

g) IfanapplicantrequestsarefundoftheremittanceamountfromtheBank,subjecttotheBankhavingreceivedthefundsfromtheBeneficiary’sbank,theBankshallatitssolediscretionmakethepaymenttotheapplicantattheprevailingbuyingratefortherelevantcurrencylessallchargesandexpensesincurred.

Licensed by CBB as a Conventional Retail Bank Page 9 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

8. Funds Transfer:

a) TheCustomeragreesnottotransferfundstoaccounts,whicharenotpermittedundertheseTermsandConditionsand/orinviolationofanyrules,regulationsandlawsasapplicable.

b) TheBankreservestherighttodeclineanyFundsTransferrequestsaswellasrequeststoamendorcancelapreviousrequest.

c) IfInstructionsidentifyaBeneficiarybynameandaccountnumber,theBankmayexecutethoseInstructionsbyreferencetotheAccountnumberonly,eveniftheAccountnumberdoesnotcorrespondwiththenameprovidedbytheCustomer.

d) TheCustomerunderstandsandagreesthatthefundsaretransferredonlineuponFundsTransferrequestmadeviatheOnlineBankingServices.FundsTransferswillbesubjecttotheCut-offtimesanddailyLimitsstipulatedabove.

8.1. Funds Transfers to other banks within Bahrain or outside Bahrain

a) TheCustomerwillberesponsibleformaintaining,addinganddeletingBeneficiary’snamesanddetailsforanyFundsTransferrequest.TheCustomeragreesthathewillbesolelyresponsibleforanyincorrectsetupofBeneficiariessetupbyhimintheOnlineBankingServices.

b) TheCustomeracknowledgesandagreesthatwhentheBankiscarryingoutaremittancefromanyoftheirAccounts,theBankisactingasanagentfortheCustomerandnotastheagentoronbehalfofanythirdparty.TheCustomerunderstandsandagreesthatatalltimeshis/herrelationshipwithanythirdpartyisindependentoftheBankandtheCustomer’suseofthisService.TheBankwillinnowayberesponsibleforanyactsoromissionsbyanyotherbank/financialinstitution(s)orotherproviderofanyAccount,includingandwithoutlimitationtoanymodification,interruptionordiscontinuanceofanyAccountbysuchbank/financialinstitution(s).

c) TheCustomeragreesnottorequestforanyFundsTransferthatarenotpermittedundertheseTermsandConditionsand/orinviolationofanyrules,regulationsandlawsasapplicable.TheBankisnotresponsibleforanycostsorlossesincurredasaresultofanytransactionsthatarenotpermittedunderrestrictionsimposedbytheBeneficiary’sbank/financialinstitutionorthoseimposedbylaw.

d) TheBankreservestherighttodeclinetoaffectanyFundsTransferrequestsaswellasrequeststoamendorcancelpreviousrequests.

e) TheCustomerunderstandsthattheBankwillnotinvestigateanydiscrepanciesbetweenaBeneficiary’snameandaccountnumber.Inaddition,theCustomeragreesthattheBankisundernodutytoinvestigatediscrepanciesbetweentheBeneficiary’snameandaccountnumber,andthattheBankwillactonlyaspertheInstructionsoftheCustomer.IfaFundsTransferrequestidentifiesaBeneficiarybynameandaccountnumber,theBankmayexecutethoseInstructionsbyreferencetotheaccountnumberonly,eveniftheaccountnumberdoesnotcorrespondwiththeBeneficiary’sname.TheCustomerunderstandsthatotherbank/financialinstitutionsmaynotinvestigatediscrepanciesbetweenBeneficiary’snamesandaccountnumbers.Inaddition,theCustomeragreesthattheBankhavenoresponsibilitytoinvestigatediscrepanciesbetweenBeneficiarynamesandaccountnumbersandtheBankwillactonlyaspertheinstructionsoftheCustomer.

f) TheCustomerunderstandsandagreesthatatalltimeshis/herrelationshipwithotherbanks/financialinstitutionsisindependentoftheCustomer’srelationshipwiththeBank.TheBankwillnotberesponsibleforanyactsoromissionsbyotherbanks/financialinstitutionsorotherproviderofanyaccount,includingandwithoutlimitationtoanymodification,interruptionordiscontinuanceofanyaccountbysuchbanks/financialinstitutions.

g) TheCustomermustcheckwiththeBeneficiary’sbank/financialinstitutionforrestrictionsregardingtransferoffundswithintheirinstitution.TheBankisnotresponsibleforanyChargesorlossesincurredfromFundsTransfersthatarenotpermittedbysuchbanks/financialinstitutionsorthoseimposedbylaw.

h) TheCustomerunderstandsandagreesthatanyFundsTransfertothirdpartyaccountsinotherbanks/financialinstitutionswithinoroutsideBahrainaresentbySWIFTtransfer.FundsTransfersaresubjecttotheCut-offTimeanddailyLimits.TheconditionsofSWIFTFundsTransfersarestipulatedabove.

i) TheCustomeracknowledgesthataccesstosomeoftheOnlineBankingServicesincludingFundsTransferstobeneficiarieslocatedoutsideBahrainmaytakelongertoprocess,duetodifferencesintime,businesshoursandbusinessdaysbetweentheplacewheretheInstructionorTransactionisreceivedandtheplaceofaccountstobedebitedorcredited.

Licensed by CBB as a Conventional Retail Bank Page 10 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

8.2. Remittances:

InadditiontotheseTermsandConditions,thefollowingshallalsoapplyforremittances:

a) PaymentofthetransferredfundsissubjecttoanyRulesandRegulationsofthecountrywherepaymentistobemade,inviewoftheprevalenceofexchangerestrictionsthroughouttheworld.TheliabilityoftheBankwithrespecttopaymentofthetransferredfundsshallnotexceedinanycasetheextenttowhichpaymentisallowedinthecurrencywhichthetransferredfundsaretobemadeunderanygovernmentorotherrestrictionsexistingintheplaceofpaymentatthetimepaymentinstructionsarereceived.NeithertheBanknoritscorrespondentsoragentsshallbeliableforanydelayorlosscausedbyanyActofanyGovernmentorGovernmentAgencyasaresultoforinconsequencebyanycausewhatsoever.

b) If,aftertheBankhasconvertedanapplicant’sfundsintoadifferentcurrency,theBankisforanyreason,unabletoproceedwithatransfer,theBankshallrefundtheamountofthecancelledtransfertotheapplicantandinordertoeffecttherefund,theBankmayconvertthefundsbackintotheoriginalcurrencyatthethendemandbuyingrateforthecurrencyinquestionandmaydeductanycostcharges,expenseandinterest.

c) Unless,itisotherwiseexpresslyandspecificallyagreedinwriting,theBankmayatitsdiscretionconvertintoaforeigncurrencythefundsreceivedfromtheapplicantattheBank’ssellingrateonthedaysuchfundsarereceived.TheBank’sstatementinwritingthatithaseffectedsuchconversionandtheamountofsuchconversionshallbeconclusive.

d) CurrencyotherthanthatofthecountrytowhichtheremittanceismadeshallbepayabletothepayeeinthecurrencyofthesaidcountryunlessthepayeebyarrangementwiththepayingcorrespondentorAgentobtainspaymentinsomeothercurrencyuponpayingallchargesoftheBank’scorrespondentoragentinconnectionherewithandinaccordancewithtermsseparatelyagreedwithsuchcorrespondent.

e) TheBankmaytakecustomarystepsforremittanceaccordingtotheseTermsandConditions.Insodoing,theBankshallbefreeonbehalfoftheCustomertomakeuseofanycorrespondent,sub-agentorotheragencybutinnocasewilltheBankoranyofitscorrespondentsoragentsbeliableformutilation,interruptions,errorsordelayoccurringinthewire,cablesormains,oronthepartofanyPostalAuthority,Telegraph,CableorWirelesscompanyoranyemployeeofsuchauthorityorthroughothercause.TheBankmaysendanymessagerelativetothistransferinexplicitlanguageorcode.

f) TheapplicablevaluedateisthedateappliedbytheBank,irrespectiveofthedateofdebitingtheapplicantsaccount.

g) Incaseofpaymenttobemadeinfullwithoutdeductions,anycurrentorsubsequentCorrespondentBankcharges,feesorcommissionwillbefortheapplicant’saccount.TheBankisauthorizedtorecoversuchcharges,feesorcommissiondirectlyfromtheapplicant’saccountwithoutpriornotification.

h) AswellastheseTermsandConditions,anytransfershallalsobesubjecttotheBank’sstandardTermsandConditionswhereapplicableincludingthoserelatingtopreventionofmoneylaundering.

i) TheseTermsandConditionsaresubjecttothelawsofBahrainandtheexclusivejurisdictionoftheBahraincourts.

8.3. Other Online Banking Services:

TheCustomerunderstandsandagreesthatthetermsandconditionsrelatingtotheBank’sproductsandservicesarealsosubjecttochangefromtimetotimeatthediscretionoftheBankandtheCustomerwillkeephimselfabreastofanysuchchangesbeforeutilizingtheOnlineBankingServices.

8.3.1.Sweepservice:TheCustomerunderstandsandagreesthattransfersoffundsthroughsweepfunctionalityarenotgovernedbyfinancialwork-flowrulesoftheOnlineBankingServices.Therefore,transferoffundsthroughthesweepfunctionalitywillbeaspertheparametersgiveninthemandateforsweepfacilityprovidedbytheCustomer.

8.3.2.Fixeddeposits:TheCustomerunderstandsandacknowledgesthatotherfunctionalitieslikechangingofmaturityinstructionsforfixeddeposits(FD)arealsonotgovernedbyfinancialwork=flowrules.UsersauthorizedbytheCustomertochangethematurityinstructionsofFDscanusetheirauthoritytodivertFDproceedsonmaturityoftheFD,toaccountswheretheyhaveauthorityforFinancialTransactions.TheCustomeragreesandacknowledgesthatheissolelyresponsiblefortheconsequencesofauthorizingUsersforfunctionalitieswhicharenotgovernedbyfinancialwork-flowrules,whichincludebutarenotlimitedtosweepservicesandchangingofmaturityinstructionsonFDs.

8.3.3.Creditcards:TheCustomerunderstandsandagreesthatallUsersauthorizedtodoso,canaccessdetailsandtransactionsforallcreditcardslinkedtotheCustomer’sIdentificationnumberwiththeBank.

Licensed by CBB as a Conventional Retail Bank Page 11 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

9. Customer undertakings:

a) TheBankisnotrequiredtomakeanyinvestigationsregardingtheidentityofanyUser(oranypersonpurportingtobetheUser)oranythirdpartygainingaccesstotheOnlineBankingServices,otherthantheLoginCredentialsprovidedinthesecurityprocedureand/oranyotheradditionalsecuritymethods/devicesimplementedbytheBankatitsabsolutediscretion.

b) TheCustomerisliablefortheusageoftheLoginCredentialsandanyotherauthenticationmethods/devicesusedtoaccessanyoftheOnlineBankingServicesbyaUser,anyotherauthorizedpersonnel,anyunauthorizedpersonneloranyotherthirdparties.

c) TheCustomerunderstandsthattheBankcanrelyontheauthenticityofTransactionsconductedbytheCustomer,aUseroranybodyelseontheCustomer’sbehalfbyaccessingtheOnlineBankingServicesusingLoginCredentialsandanyassociatedsecurityprocedures.TheCustomeralsoagreesthatiftheBankhasanyreasontodoubtthegenuinenessofanyInstructionorTransaction,theBankmay,initsowndiscretion,choosenottoprocesstheInstructionand/orTransactioninitiatedusinganyoftheOnlineBankingServices.

d) TheCustomerisresponsiblefortheaccuracyofinformationsubmittedtotheBankandtheBankshallnotbearanyliabilityforanylossordamagearisingfromanyerroneousorinsufficientinformationprovidedtotheBank.

e) TheCustomerundertakestoexecuteanyadditionaldocumentsthatmayberequiredbytheBankpriortoprovidinganyexisting/modified/additionalServiceundertheOnlineBankingServices.WhereaCustomerfailstocomplywithsuchrequirements,theCustomershallnotbeeligibleforsuchexisting,enhancedormodifiedOnlineBankingServicesandtheBankwillbeentitledtowithdrawtheOnlineBankingServicesprovidedearlier.

f) TheCustomershallensuresufficientdrawingbalanceintheAccountrelatingtotheOnlineBankingServices,beforemakinganypaymentorFundsTransfer.Ifforanyreason,theAccountisoverdrawnbyuseoftherelevantOnlineBankingService,theCustomershallberesponsibleforimmediatelymakingupthedeficitbyadirectpaymentortransferoffundsfromanyotherAccount.FailuretocomplywiththisconditionshallentitletheBanktocanceltheOnlineBankingServicesandtorecoverorset-offanyoutstandingamountsandChargesfromtheCustomerinamannerdeemedappropriatebytheBank.

10. Liability of the Bank:

TheCustomeragreesthattheOnlineBankingServicesareprovidedexclusivelyforthebenefitoftheCustomer.TheBankshallnotbeheldliableinanymannerorform,forprovidingtheOnlineBankingServices,includingbutnotlimitedto,anyofthefollowing:

a) IftheCustomerisunabletoaccessand/orutilizetheOnlineBankingServicesduetoanyreasonbeyondtheBank’scontrolincludinganytechnical,communicationornetworkmalfunctionorbreakdown;

b) ForanylossordamagethatmayariseorbeincurreddirectlyorindirectlybyreasonoftheBankcarryingouttheCustomer’sTransactionsorInstructionsorfromanymalfunctionorfailureoftheOnlineBankingServices.

c) Foranychange,alteration,additionsordeletionstotheseTermsandConditions,theOnlineBankingServices,thesystemsofoperationoftheOnlineBankingServicesorthedailyCut-offTimes;

d) Foranypartial,incomplete,lateorfailedFundsTransfer,remittances,accountsweeporBillPaymentstoanypayee/BeneficiarynominatedundertheOnlineBankingServicesduetoanyreasonsbeyondtheBank’scontrol;or

e) AnypersonwhohasnotbeenauthorizedbytheCustomerpurportingtobeaUserorotherwiseaccessingorutilizingtheOnlineBankingServicesonbehalfoftheCustomerbyprovidingaccuratelogonanduserauthenticationcredentials.

11. Indemnity by the Customer:TheOnlineBankingServicesareprovidedentirelyattheriskoftheCustomerandtheCustomeragreestoindemnify,defendandholdharmlesstheBank,itsServiceProviders,affiliates,partners,officers,directors,employeesandagentsfromanyandallclaims,liability,damagesand/orcosts(including,butnotlimitedto,attorney’sfees)arisingfrom:

a) TheCustomer’suseoftheOnlineBankingServices;

b) TheBank’srelianceonanyinformation,Instruction,licenseand/orauthorizationprovidedbytheCustomeroraUserunderorpursuanttotheseTermsandConditions;

c) TheCustomer’sortheUser’sviolationoftheTermsandConditionsorits/his/herinfringement,orinfringementbytheUseroranyotheruseroftheAccounts,ofanyIntellectualPropertyorotherrightofanypersonorentity;

Licensed by CBB as a Conventional Retail Bank Page 12 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

d) TheBankactingontheInstructions;

e) AnydamagetotheITsystemsoftheCustomeroranythirdparty;

f) TheCustomer’soraUser’smisuse/improperuse/accessoftheOnlineBankingServicesorLoginCredentials;or

g) AnyfailurebytheBanktoprovideanyorallofthefacilitiesavailableundertheOnlineBankingServicesattributable,eitherwhollyorpartly,toreasonsbeyondtheBank’scontrol,includinganytechnicalmalfunction/breakdown.

TheBankdoesnotguaranteetheaccuracy,completenessandtimelinessofinformationsetoutorincludedontheOnlineBankingServicesandanyinformationsetoutorincludedthroughtheOnlineBankingServicesissubjecttoamendment,variationandchangefromtimetotime.

12. Responsibility for Errors:

TheCustomerunderstandsandagreesthattheBankwillrelyontheinformationprovidedbytheCustomeroraUser(asapplicable)andtheCustomerauthorizestheBanktoactonanyInstructions,whichhavebeenorreasonablyappeartohavebeensentbytheCustomeroraUser,tosubmittransfer,remittancesormakepaymentInstructionsontheCustomer’sbehalf.TheCustomerunderstandsthatthirdpartyfinancialinstitutionsreceivingthetransfer/paymentinstructionsmayrelyonsuchinformation.TheBankisnotobligedtotakeanyfurtherstepstoconfirmorauthenticatesuchInstructionsandwillactonthemwithoutrequestinganyfurtherconfirmation.TheCustomerunderstandsthatiftheCustomeroraUserprovidestheBankwithincorrectinformationorifthereisanyerrorintheCustomer’sorUser’sInstruction/information,theCustomeracceptsfullresponsibilityforlossesresultingfromanyoferrors,duplication,ambiguitiesorfraudintheinformationthatisprovidedbytheCustomer.TheCustomeragreesnotto,andwillensurethattheUserwillnot,impersonateanypersonoruseanamethattheCustomerortheUserisnotauthorizedtouse.IfanyinformationprovidedbytheCustomeroraUserisuntrue,inaccurate,notcurrentorincomplete,withoutlimitingotherremedies,theBankreservestherighttorecoverfromtheCustomeranycostsorlossesincurredasadirectorindirectresultoftheinaccurateorincompleteinformation.Inanyevent,theBankisnotresponsibleforerrors,delaysandotherproblemscausedbyorresultingfromtheactionorinactionofanythirdpartyfortransfers/paymentsinstructions.TheCustomerunderstandsthatanysucherrors,delaysorotherproblemsaretheresponsibilityoftherelevantthirdparty.TheBankdoesnotguaranteethattheCustomer’sinfrastructurewillensureconnectivitytotheBank’selectronicnetwork.

13. Service Charges:

Whencompletingatransfer,remittances,PayBills,ServicerequestsorusinganyOnlineBankingServices,certainChargeswillapply.TheCustomeragreesandundertakestopaytheChargesfortheuseoftheOnlineBankingServicesandtheBankshalldirectlydebittheAccountwiththeapplicableChargesforanyTransactionexecutedorservicesutilizedundertheOnlineBankingServices.SuchChargesshallbeaspertheBank’sscheduleoffees,commissionsandcharges,whichisavailableasalinktotheCustomeratalltimesfortheOnlineBankingServices.

TheBankmaychangetheamountoftheapplicableChargesfromtimetotimeatitsdiscretion.TheCustomeragreesthatifforanyreasontheChargesforanyoftheOnlineBankingServicesarenotcollectedfromtheAccount,theBankhastherighttodeclineanyServicerequest.

TheBankreservestherighttochargeafeefortheuseofitsOnlineBankingServicesandanyadditionalservicesorfeaturesthattheBankmayintroduce.TheCustomerunderstandsandagreesthattheCustomerisresponsibleforpayinganyandallthefeesassociatedwithusageoftheOnlineBankingServices.

14. Limitation of Liability and Warranty:

a) TheCustomerunderstandsandexpresslyagreesthatuseoftheOnlineBankingServicesincludinganymaterialand/ordatadownloadorotherwiseobtainedthroughtheuseoftheOnlineBankingServicesisdownloadedorobtainedattheCustomer’sownriskandtheCustomerwillbesolelyresponsibleforanydamages,includingwithoutlimitationdamagetotheCustomer’scomputersystemorlossofdatathatresultsfromthedownloadortheobtainingofsuchmaterialand/ordata.

b) ExceptasexpresslysetforthintheseTermsandConditions,theBankdisclaimswarrantiesofanykind,expressorimplied,includingwithoutlimitationanywarrantyofmerchantability,fitnessforaparticularpurposeornon-infringementofIntellectualPropertyorthirdpartyrights,andtheBankmakesnowarrantyorrepresentationregardingtheaccuracyorreliabilityofanyinformationincludingsuchinformationasretrievedbytheCustomerfromtheAccountoranyresultsthatmaybeobtainedfromtheuseoftheOnlineBankingServices,orthattheOnlineBankingServiceswillmeetrequirementsofallusers,beuninterrupted,timely,secureorerrorfree.

Licensed by CBB as a Conventional Retail Bank Page 13 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

c) ExceptasdescribedintheseTermsandConditions,theBankwillnotbeliableforanydirect,indirect,incidental,special,consequentialorpunitivedamagesofanykindresultingfromtheuseofortheinabilitytousetheOnlineBankingServices,anyinaccuracyofanyinformationoramountretrievedbytheBankfromtheAccount(s),anybreachofsecuritycausedbytheUserorathirdparty,anyTransactionsenteredintobasedontheOnlineBankingServices,anylossof,unauthorizedaccesstooralterationoftheCustomer’stransmissionsordataorforthecostofprocurementofsubstitutegoodsandservices,includingbutnotlimitedtodamagesforlossofprofits,use,dataorotherintangibles,eveniftheBankhadbeenadvisedofthepossibilityofsuchdamages.

d) TheCustomeracknowledgesandagreesthatwhentheBankand/oritsServiceProvideriseffectingatransfer,remittance,PayBilloranyotherfinancialtransactionfromortoanyoftheAccounts,theBankand/oritsServiceProvider(asapplicable)isactingastheCustomer’sagent,andnotastheagentoronbehalfofanythirdparty.TheCustomeragreesthattheBank,itsaffiliates,ServiceProvidersandpartnersshallbeentitledtorelyontheforegoingauthorization,agencyandauthoritygrantedbytheCustomer.

e) TheCustomeragreesthattheBankshallnotbeliableforanycosts,fees,lossesordamagesofanykindincurredasaresultof(1)theBank’saccesstotheAccounts;(2)ourdebitand/orcreditorinabilitytodebitand/orcredittheAccountsinaccordancewiththeCustomer’sFundsTransferInstructions;(3)anyinaccuracy,incompletenessormisinformationcontainedintheinformationretrievedfromtheAccounts;(4)anychargesimposedbyanyproviderofaccounts;and(5)anyFundsTransferlimitationssetbythefinancialinstitutionsorotherprovidersoftheAccounts.

15. Viruses and Technical Problems:The Bank shall not be held liable for any harm caused by the transmission through the Online Banking Services, of a computervirus, or other computer code or programming device that might be used to access, modify, delete, damage, corrupt,deactivate, disable, disrupt, or otherwise impede in any manner the operation of the Online Banking Services or any of theCustomer’s software, hardware, data or property.

16. Right of the Bank to obtain information/verification:The Bank and its Service Provider reserve the right to obtain such information as the Bank deems reasonably necessary to ensurethat the Customer is not using the Online Banking Services in violation of law, including, but not limited to, laws and regulationsdesigned to prevent money laundering or the transfer of funds to Accounts that are blocked by the regulators or under the laws andregulations applicable to money laundering, of the country of access to the Online Banking Services. The Customer undertakes toprovide all or any information regarding the transfer and payments in order to comply with the applicable laws and regulations TheCustomer shall be responsible for the prevention of money laundering and shall ensure compliance of the same.The Customer understands and agrees that the Bank is required to detect, take necessary measures against and report toregulators any suspicious Transaction carried out through the Account.

17. No Unlawful or Prohibited Use:As a condition of using the Online Banking Services, the Customer warrants to the Bank that the Customer and the User willnot use the Online Banking Services for any purpose that is unlawful or is not permitted, expressly or implicitly, by the termsof these Terms and Conditions or by any applicable laws or regulations in Bahrain or from any country from which theCustomer uses the Online Banking Services. The Customer further warrants and represents that the Customer and the Userwill not use the Online Banking Services in any manner that could damage, disable, overburden, or impair the Online BankingServices or interfere with any other party’s use and enjoyment of the Online Banking Services. Neither the Customer nor theUser may obtain or attempt to obtain any materials or information through any means not intentionally made available orprovided for through the Online Banking Services. The Customer agrees that these warranties and representations will remainin full force and effect even if these Terms and Conditions terminate for any reason.

18. SoftwareThe Customer shall use and maintain hardware and software of sufficient quality and performance capability and shall use only the latestversions of Microsoft Internet Explorer and Firefox browsers. The Customer’s failure to use these browsers may result in a highersecurity risk and/or result in reduced functionality of the Corporate Portal or the Corporate Portal failing to operate properly or at all.The software, if any, made available for download on or via the Corporate Portal is governed by license conditions thatestablish a legal relationship with the licensor. The Customer shall indemnify the Bank against any customer breach of theselicense conditions. The Bank gives no warranty and makes no representation, whether express or implied, as to the quality orfitness for purpose of the use of such software.No Warranty, whether expressed or implied, is given by the Bank that any files, downloads or applications available via theCorporate Portal are free of Malware, viruses, Trojans, time-locks or any other data or code which has the ability to corrupt oraffect the operation of the Customer’s computer, database, network or other information system.

Licensed by CBB as a Conventional Retail Bank Page 14 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

19. Intellectual Property Rights:

a) TheCustomeracknowledgesthattheBankortheServiceProvideristheowneroforhastherightandabilitytoprovideaccesstotheIntellectualPropertyrightstotheCustomerforthepurposesoftheseTermsandConditions.

b) TheCustomeracknowledgesandagreesthatanyandallIntellectualPropertyrightsinandrelatingtotheimplementationoftheseTermsandConditions,whichhavebeenproducedbyorfortheBankshallconstitutethepropertyofandshallautomaticallybelongtotheBank,irrespectiveofitsuseinconnectionwiththeseTermsandConditionsandtheBankshallhavetheabsoluterighttoutilizetheIntellectualPropertytoitsbenefitandadvantageandtoalterand/orimproveanyelementorcomponentthereofinanymanneritdeemsfitatalltimes.

c) TheCustomeracknowledgesandagreesthathe/sheobtainsnorightorinterestintheIntellectualPropertyrightsbyvirtueoftheseTermsandConditions.

d) InrelationtotheIntellectualPropertyrightswhicharethesubjectoftheseTermsandConditionstheCustomershallabidebythefollowing:

– TheCustomershallnotsell,give,grant,assignorinanywaydisposeorattempttodisposeoftheIntellectualPropertyrightstoanythirdparty;

– TheCustomershallnotregisterorapplyforregistrationofanyIntellectualPropertyrightsinBahrainorinanyothercountry;or

– TheCustomershallnotinanywayinfringetheIntellectualPropertyrights;

e) TheCustomeragreestonotifytheBankassoonasitisawareofanyinfringementoftheBank’sIntellectualPropertyrightsorbecomesawareoforsuspectsanyunauthorizedthirdpartyaccesstooruseofIntellectualPropertyrights.

f) IncaseoftheCustomer’sviolationoforinfringementoftheIntellectualPropertyrightsbyanymeanswithouttheBank’spriorwrittenanddocumentedconsent,theBankshallbeentitledtotakeanylegalactionagainsttheCustomerandseekcompensationforsuchinfringementand/orserveawrittennoticetotheCustomerforterminationoftheseTermsandConditions.

g) TheobligationsoftheCustomerinthisclauseshallcontinueinforcenotwithstandingterminationoftheseTermsandConditionsforwhatsoeverreason.

h) TheCustomeracknowledgesandagreesthatanyandallIntellectualPropertyrightsinandrelatingtotheimplementationoftheseTermsandConditionsandallmaterials,documentationoftheOnlineBankingServicesandsubsequentamendmentsincludinguserguidelinesinanyformforuseinconnectionwiththeimplementationoftheseTermsandConditionsshallconstitutethepropertyoftheBank.TheCustomeragreestotreatatalltimes,theaccessrights,documentation,IntellectualPropertyoranyotherinformationrelatedtotheOnlineBankingServicesasstrictlyprivateandconfidential.TheCustomershallhavenoright,withoutthepriorwrittenconsentoftheBank(whichmaybewithheld)touse,copyreproducediscloseorpermitanyotherpersonorbusinessentitytouseorhaveaccesstosuchIntellectualProperty.

20. Electronic Communications:

a) TheOnlineBankingServicesareanelectronic,internet-basedservice.Therefore,theCustomerunderstandsandagreesthattheseTermsandConditionswillbeenteredintoelectronically,andthatthefollowingcategoriesofinformation(“Communications”)maybeprovidedbytheBanktotheCustomer,byelectronicmeans:

– TheseTermsandConditionsandanynotices,amendments,modificationsorsupplementstoit.

– Recordsoftransfers,paymentsandotherTransactionscarriedoutthroughutilizingtheOnlineBankingServices,includingwithoutlimitationconfirmationsofindividualtransactions.

– Anyinitial,periodicorotherdisclosuresornoticesprovidedinconnectionwiththeOnlineBankingServices,includingwithoutlimitationthoserequiredbylaw.

– AnyCustomerservicecommunicationsincluding,withoutlimitation,communicationswithrespecttoclaimsoferrororunauthorizeduseoftheOnlineBankingServices.

– AnyothercommunicationrelatedtotheOnlineBankingServices.

b) AlthoughtheBankreservestherighttoprovideCommunicationsinpaperformatatanytime;theCustomeragreesthattheBankisundernoobligationtodoso.AllCommunicationsineitherelectronicorpaperformatwillbeconsideredtobe“inwriting”.TheCustomershouldprintapapercopyofanyimportantelectronicCommunicationandretainthecopyfortheirrecords.

Licensed by CBB as a Conventional Retail Bank Page 15 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

c) TheCustomeragreestopromptlyupdateitsregistrationrecords,iftheCustomer’se-mailaddressorotherinformationchanges.

d) CommunicationsmaybepostedonthepagesoftheService,theCorporatePortaloranyotherwebsiteoftheBankdisclosedtotheCustomerand/ordeliveredtothee-mailaddressprovidedbytheCustomer.AnyelectronicCommunication(includinge-mails)willbedeemedtohavebeenreceivedbytheCustomerwhentheBanksendsittotheCustomer,irrespectiveofwhethertheCustomerreceivesthee-mail.IftheCommunicationispostedontheService,thenitwillbedeemedtohavebeenreceivedbytheCustomerwhetherornottheCustomerretrievestheCommunication.AnelectronicCommunicationbye-mailisconsideredtobesentatthetimethattheBank’se-mailserverdirectsittotheappropriateemailaddress.AnelectronicCommunicationmadebypostingonthepagesoftheServiceisconsideredtobesentatthetimeitispubliclyavailable.TheCustomeragreesthatthesearereasonableproceduresforsendingandreceivingelectronicCommunications.

e) InordertoaccessandretainCommunications,theCustomermusthaveane-mailaccountande-mailsoftwarecapableofreadingtheBank’sE-mails.

21. Permission for hyperlinks, deep linking, crawlers and metatags

TheCustomerisnotauthorizedtoestablishahyperlink,frame,metatagorsimilarreference,whetherelectronicallyorotherwise(collectivelyreferredtoaslinking),totheCorporatePortaloranysubsidiarypagesbeforereceivingtheBank’spriorwrittenapproval,whichmaybewithheldorgrantedsubjecttotheconditionstheBankmayspecifyfromtimetotime.

Anapplicationforlinkingmustbesubmittedtonbb@nbbonline.com.bh.OncetheapplicationisreceivedtheBankwillendeavortorespondandenterintofurtherdiscussionswiththeCustomer.IftheCustomerhasnotreceivedawrittenresponsefromtheBankwithinsevenBusinessDays,consider,theCustomer’sapplicationshallbetreatedashavingbeenrejected.

Breachoftheseconditionsentitlesustotakelegalactionwithoutpriornoticetoyouandyouagreetoreimbursethecostsassociatedwithsuchlegalactiontousonanattorneyandownclientscale.

22. No Liability for failure to complete transaction through Online Banking Services:

TheBankdoesnotguaranteegoodandtimelyexecutionofTransactionsandwillnotbeliableforanydirect,indirect,incidental,specialorconsequentialdamagesiftheBank’sfailuretocompleteanyTransactionundertheOnlineBankingServices,whichwasnotintentionalandresultedfromabonafideerror,notwithstandingtheBank’sprocedurestoavoidsucherror.

TheBankshallnotbeobligatedtoinformtheCustomerofafailuretoeffectanypaymentorexecuteanyTransactionforanyreason.TheBankmayatanytimerequestfromtheCustomer’swrittenconfirmationofsubmittedTransactions.TheCustomerdeclaresthatnoneofitsTransactionsshallcontributetothelaunderingofcriminalproceedsandtheCustomerassumesresponsibilityfortheauthenticityandlawfulnessofitsTransactions.

23. Suspensions, Reinstatement of any facilities or use of Online Banking Services:

IntheeventthattheBankatanytimeincursaproblemwiththeCustomer’suseofanyfacilitiesundertheOnlineBankingServices,includingwithoutlimitationafailureinattemptingtodebitanyoftheAccountsortocollectwithrespecttoanyoftransfersorpayments,withoutlimitinganyotherrightorremedythattheBankmayhaveundertheseTermsandConditionsorotherwise,theBankreservestherighttosuspendtheCustomer’srighttousetheOnlineBankingServices,immediatelyandwithoutpriornoticetotheCustomer.TheCustomerunderstandsandagreesthatsuchactionisreasonablefortheBanktotakeinordertoprotecttheAccountsandtheBankfromloss.Intheeventofsuchsuspension,theCustomermayrequestreinstatementofthefacilitiesbycontactingtheBankusinganyofthemethodsprovidedforundertheseTermsandConditions.

24. Change in Services:

TheCustomeragreesthattheBankmayatitsabsolutediscretionamendtheseTermsandConditions,theOnlineBankingServicesoranyoneoftheServices,useofsomeorallAccountswithintheOnlineBankingServices,atanytimewithorwithoutnotice,withoutliabilitytotheBank.TheCustomeragreesthatiftheCustomercontinuestouseanyServiceafteranysuchchange,theCustomerwillbedeemedtohaveacceptedthechangesandwillbeboundbytheseTermsandConditions,asamended.ThelatestversionoftheseTermsandConditionsisavailableontheCorporatePortal.

TheCustomeragreesthattheBankhastherighttodiscontinue/withdrawanyorallofthefacilitiesundertheOnlineBankingServices,withoutassigninganyreason.IftheCustomerdoesnotacceptandagreetothechangestotheseTermsandConditions,orifatanytimetheCustomerwishestodiscontinuetheuseoftheOnlineBankingServices,theCustomerisrequiredtonotifytheBankinwritingthroughe-mailorbypostandinanyeventtheCustomerwillnotbeentitledtousetheServices.

Licensed by CBB as a Conventional Retail Bank Page 16 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

25. Discontinuation/Termination of Services:

TheBankreservestherighttodiscontinueorterminatetheOnlineBankingServicesandtheCustomer’srighttousetheOnlineBankingServicesatanytimeandforanyreason,includingwithoutlimitationiftheBank,initssolejudgment,believesthattheCustomeroraUserisengagedinactivitiesthatviolateanyofthetermsundertheseTermsandConditionsortherightsoftheBankand/ortheBank’sServiceProvider,oriftheCustomeroraUserprovidestheBankwithfalseormisleadinginformationorinterfereswithotherusersortheadministrationoftheOnlineBankingServices.ItisaconditionprecedentforuseoftheOnlineBankingServicesthattheCustomermaintainsanAccountwiththeBank.IntheeventwherethebankingrelationshipisterminatedforanyreasonorintheeventofanybreachoftheTermsandConditionscontainedherein,theBankshallbeentitledforthwithtocanceltheOnlineBankingServices.IncasetheCustomerwantstoterminatetheOnlineBankingServices,theCustomerneedstoprovideaminimumof10BusinessDays’writtennoticetotheBanktoaffectthisterminationrequest.TheBankcanterminatetheOnlineBankingServicesirrespectiveofwhetherthereareanyoutstandingTransactionsorInstructionsforexecution.TheBankhastherighttoreceiveallpayments/chargesetc.becomingdueuptotheterminationdateandtherighttodeductthesefromanysumpayablebytheBanktotheCustomer.

a) Waiver

Noforbearance,neglectorwaiverbytheBankintheexerciseorenforcementofanyrightorremedyarisingfromanyoftheseTermsandConditionswillprejudicetheBank’srightthereaftertostrictlyenforcethesame.NowaiverbytheBankwillbeeffectiveunlessitisinwriting.

b) Variations

TheCustomerisdeemedtohaveread,understoodandagreedtobeboundbytheseTermsandConditions.Atanytime,theBankmaychange,add,amend,supersedeorsupplementanyoralloftheprovisionsoftheseTermsandConditions.TheBankwillpublishelectronicallyontheOnlineBankingSiteanyamendmentstotheseTermsandConditionsandsuchamendmentswillbeeffectivefromthedatesuchchangesarenotifiedtoallCustomer.However,suchchangesaredeemedtobebindingontheCustomerwhetherornottheCustomerhasreceivedspecificnoticeinpersonofsuchamendments.

c) Severability

IfanyprovisionintheseTermsandConditionsisfoundtobeunenforceable,invalidorillegal,suchprovisionwillbedeemedtobedeletedandtheremainderoftheseTermsandConditionswillbeunaffectedbysuchunenforceability,invalidityorillegality.

d) ForceMajeure

TheBankshallnotbeliableforitsinabilitytodeliverOnlineBankingServicesonconvertibilityortransferability,requisitions,involuntarytransfers,actsofwarorcivilstrikeorothersimilarcausesbeyondtheBank’scontrol.InsucheventneithertheBanknoranyofitsbranches,subsidiariesoraffiliatesshallberesponsibleorliabletotheCustomerforsuchinabilitytodeliveranyoralloftheOnlineBankingServices.

e) Assignment

TheBankmay,withoutanypriornoticetotheCustomer,atitsowndiscretionassignthewholeoranypartofitsrightsandobligationsundertheseTermsandConditions.TheobligationsoftheCustomerundertheseTermsandConditionsmaynotbeassignedinwholeorinpart,withoutapriorwrittenconsentoftheBank.

f) Records

TheBankisentitledtorecordallInstructions,CommunicationwiththeCustomerandmessagesand/orInstructionssenttotheBankelectronicallyorotherwiseandotherTransactionsconductedbyorthroughanysuchmedium.TheBank’srecordofallsuchCommunications,conversations,Instructions,messagesandTransactionswillbeconclusiveandbindingontheCustomerforallpurposes.

g) Notices

SaveasotherwiseprovidedintheseTermsandConditions,anydemandorCommunicationmadebytheBankundertheseTermsandConditionswillbeinwritinginEnglishandsenttotheaddressgivenbytheCustomer(orsuchotheraddressastheCustomermaynotifytheBankfromtimetotime)and,ifposted,willbedeemedtohavebeenservedontheCustomeronthedateofposting.

h) Headings

TheclauseheadingsintheseTermsandConditionsareonlyforconvenienceanddonotaffectthemeaningoftherelativeterms.

Licensed by CBB as a Conventional Retail Bank Page 17 of 18

BUSINESS ONLINE BANKING TERMS & CONDITIONS

26. Governing Law and Jurisdiction:

a) TheseTermsandConditionsshallbegovernedbyandconstruedinaccordancewiththelawsandregulationsofBahrain,asapplicablefromtimetotimeandtheBankandtheCustomerherebyirrevocablysubmitstotheexclusivejurisdictionofthecourtsofBahraintohearanddetermineanysuit,actionorproceedingandtosettleanydisputeswhichmayariseoutoforinconnectionwiththeseTermsandConditions.

b) TheCustomerirrevocablywaivesanyobjectionwhichitmightnoworhereafterhavetothecourtsreferredtointhisclausebeingnominatedastheforumtohearanddetermineanysuit,actionorproceedingandtosettleanydisputeswhichmayariseoutoforinconnectionwiththeseTermsandConditionsmadehereunderandagreesnottoclaimthatanysuchcourtisnotaconvenientorappropriateforum.

SubmissiontothejurisdictionofthecourtsofBahrainshallnotlimittherightoftheBanktobringproceedingsagainsttheCustomerinanyothercourtofcompetentjurisdictionnorshalltakingofproceedingsinanyoneormorejurisdictionsprecludethetakingofproceedingsinanyotherjurisdiction,whetherconcurrentlyornot.

Licensed by CBB as a Conventional Retail Bank Page 18 of 18