Company Details Form - C - BMI

6. Expense & Charges
6.1 The Bank shall levy applicable service charge as mentioned
in the tariff sheet or as agreed in writing, which may be
amended by the Bank from time to time. In consideration of
the Services provided by the Bank in accordance with these
terms of business or otherwise, the Bank may charge a mark
up or a mark down on transaction effected on behalf of the
Customer as agent, or both.
7.5 At any time after termination of these terms of business
under clause 7.1, or after the occurrence of any of the
Events of Default or after the Bank has determined at its
sole discretion that the Customer has not performed (or
may not be able to willing in the future to perform) one
or more of its obligations or following a Material Adverse
Change, the Bank shall be entitled without notice:
6.2 In addition to the above, the Bank has a right without
reference to the Customer, to debit the Customer’s
account with all expenses, fees, interest, commissions, tax,
duty, levy, fee, other expenses, whether paid or incurred on
behalf of the Customer or arising out of any dealing between
the Bank and the Customer or incurred by the Bank in
connection with the transactions effected with or for the
Customer, including fees incurred by the Bank in the course
of recovery of its debt.
6.3 The Bank may add more services in addition to the one
described above and the charges for the new services will
be informed upon request or prior to any transaction of the
new products.
7. Termination
7.1 The Bank reserves the right to terminate these terms of
business and any Services provided hereunder by giving a
written notice to the Customer at any time with or without
cause and such notice shall be effective on the date
mentioned in the notice. The Customer may terminate these
terms of business and any services provided in accordance
herewith by seven business days’ written notice, such notice
taking effect from the date of receipt.
7.2 No penalty will become due from either party in respect
to the termination of these terms of business. However,
any termination of these terms of business will not affect
any outstanding orders or Transactions or any legal rights,
duties, liabilities (whether actual, contingent or otherwise) or
other obligations which may already have arisen or accrued
at the date of termination.
7.3 Transaction in progress at the date of termination will be
completed by the Bank as soon as practicable.
7.4 On termination by either party, the Bank will:
(a) be entitled to receive from the Customer, all fees, costs,
charges, expenses and liabilities accrued or incurred under
these terms of business up to the time of termination
including any additional expenses or losses reasonably and
properly incurred by the Bank in terminating these terms; and
(b) as soon as reasonably practicable subject to (a), deliver
or cause the securities to be delivered to the Customer
or Customer’s order.
(a) to treat any or all Transactions then outstanding as
having been cancelled and terminated; and/or
(b) to sell Customer’s securities as the Bank may in its sole
discretion select in order to realize funds sufficient to
cover any outstanding amounts.
8. Indemnity and liability
(i) The Customer will indemnify the Bank, and keep it
indemnified, in respect of all liabilities, losses or costs of any
kind or nature whatsoever that my be incurred by the Bank
(including obligations of the Bank under any Intermediary
Agreement) as a direct or indirect result of any failure by
the Customer to perform any of its obligations under this
Agreement, in relation to any Transaction or in relation to
any false information or declaration made either to the Bank
or to any third party, in particular to any exchange.
(ii) The Bank will not be liable for any direct, indirect, special,
incidental, punitive or consequential damages (including,
without limitation, loss or business, loss of profits, failure to
avoid a loss, loss of data, loss or corruption of data, loss of
goodwill or reputation) caused by any act or omission of the
Bank under this agreement.
9. Governing Law & Jurisdiction
The laws of Bahrain shall govern this agreement and the parties
agree to subject themselves to the non-exclusive jurisdiction of
the courts of Kingdom of Bahrain.
10. Declaration
The Customer hereby declares and undertakes that any
transaction or related moneys routed through the account is not
and will not be related to any transaction or related to any money
laundering or either activities contrary to the laws of the Kingdom
of Bahrain or the International Community or the laws of other
countries as in force from time to time.
11. Recording of telephone calls
The Bank may monitor and/or record communications (internet,
telephone or otherwise) between the Bank and the Customer,
which shall be the property of the Bank.
12. Complaints
All complaints should be registered on the Bank’s website
www.bmibank .com.bh