Terms and Conditions of the Provision and Use of ... - Komerční banka

Terms and Conditions of theProvision and Use of Direct Bankingcancel particular Orders. Any PB Service may only be used tocancel a Batch that has been submitted via the same PB Service inthe BEST or EDI BEST format. If a Batch has been submitted inanother format via any PB Service, Orders contained in the Batchmay only be cancelled via MojeBanka Internet Banking orProfiBanka PC Banking PB Services.5.46 Separate Orders contained in a continuous or batch-type Batch,which shall have remained unsettled by the Bank at their due dateby 17:00, may only be cancelled at the Client's Point of Sale,however, not earlier than on the Business Day following their duedate and on the condition that they have not been settled orrejected by that time.5.47 If a Batch is cancelled on the same day on which it has beenauthorised by the same User who has authorised it, such User'sAccount Limit (or Individual FX Payment Limit) and Entity's Limitshall be increased by an aggregate sum of the cancelledpayments. In case that a Batch is cancelled by another User or hasbeen authorised in accordance with the rules of Multiple/MultilevelAuthorisation, only the Entity's Limit shall be increased by anaggregate sum of the cancelled payments as a result of thecancellation of the Batch.5.48 The Bank shall be entitled to reject a submitted Order in casesenvisaged by the Insolvency Act.N) Joint Provisions on Terms of Executing the Orders5.49 The Moment of Effectiveness of an Order submitted using theService shall fall on the required date of payment (due date) or onanother date set forth in these Conditions, provided that allprerequisites required by the Contract and by law for the executionof the Order are fulfilled, including sufficient funds available in theAccount. Failing this, the Bank shall either reject the Order or, ifagreed upon with the Client, the Moment of Effectiveness of theOrder shall not occur before the day on which all prerequisitesrequired for the execution of the Order shall be fulfilled.5.50 An Order to the debit of an Account may only be submitted by aUser who has a sufficient User's Account Limit or, in case of FXPayments, Individual FX Payment Limit; the payment transaction tobe executed based on the Order shall be deemed authorised assoon as such User attaches his/her Signature to it. If an amount ofa submitted Order is in excess of the aforesaid limits, such Ordershall be automatically placed on the list of Orders to be authorised.If the Multiple/Multilevel Authorisation has been arranged, an Orderin excess of the User's Account Limit or Individual FX PaymentLimit shall be placed on the list of Orders to be authorised. TheBank shall not settle such Order unless it is (countersigned) by allauthorised Users in accordance with the Multiple/MultilevelAuthorisation rules.5.51 Submitted Orders whose amounts are in excess of the Entity’sLimit (except for Orders not included in the Entity’s Limit) shall beautomatically placed on the list of Orders to be authorised. It isnecessary to prearrange a sufficiently high Entity’s Limit so thatsuch Orders can be authorised.5.52 Orders placed on the list of Orders to be authorised must beauthorised by a User with a sufficient User's Account Limit orIndividual FX Payment Limit (in case of FX Payments) or, in caseof a Multiple/Multilevel Authorisation, by a User or a requirednumber of Users authorised to perform the authorisation, within 30calendar days of their being placed on the list. The Signature of theOrder shall be considered as its authorisation.5.53 Payments with an advanced due date may be submitted up to 364days before the required date of payment. An advanced due dateof an Order must not fall on a day that is not a Business Day,except in case of Orders associated with term accounts.5.54 Upon a submission of an Order, the Bank shall check its formalparticulars, especially the format of the payer's Account numberand payee’s bank Unique Identifier; make sure whether the amountof the Order is not in excess of relevant limits at the moment theorder is being submitted; and verify the legitimacy of the User’sSignature attached to the Order.5.55 The Client is aware of the fact that the payment sent off by theBank in a currency different from the currency in which the payee'saccount is kept does not have to be credited to the payee'saccount by the payee's bank if this concerns a bank in a country,which is not a member of the European Economic Area, due to thedifference between the currencies. The Bank shall not be heldliable for any possible damage suffered by the Client as a result ofnon-execution of a payment transaction on part of the payee’sbank for the aforesaid reason. In such a case, the Bank shall notbe held liable for any unauthorised or erroneously performedtransaction.5.56 The Bank shall not be held liable for the succession in whichOrders are settled.5.57 The Client shall be informed about settled Orders by settlementreports.5.58 In case of insufficient funds at the Moment of Effectiveness of anOrder, such Order shall be transferred to the multiple-roundprocessing mode. All types of Orders shall be subject to themultiple-round processing, unless stipulated otherwise herein or inthe Manuals.5.59 Orders whose due dates fall on a Business Day following a daythat is not a Business Day may be processed by the Bank even onother days than Business Days immediately preceding the duedate of the Order. The due date of such Order shall remainunaltered. The orders processed in this manner cannot becancelled via the PB Service.5.60 If the Entity’s Account is taken over by another entity for whateverreason (e.g., as a result of a merger, sale of the company,assignment of rights or assumption of obligations and liabilities),the Entity hereby agrees that the new entity shall have the right toaccess information on payment transactions executed in theAccount before it has been taken over. Such consent shall remainin force even after the discharge/termination of the Contract.Submitted Orders with advanced due dates shall remainunaffected by the takeover of the Account.5.61 The multiple-round processing shall take place on Business Daysat 8:00, 8:50, 9:50, 11:50, 13:50, 14:50, 16:00, 17:30 and 18:30,unless set forth otherwise in the Manuals for particular types ofOrders. If available funds are insufficient to settle an Order evenafter the last round of the processing, the Order shall be rejectedand shall not be processed any longer. An FX Payment shall bekept being sent off for settlement repeatedly until 16:00 and then, ifavailable funds are insufficient to settle the Payment, rejected andnot processed any longer.5.62 If the User executes a Conversion Transaction, the Bank shallapply to it an Exchange Rate effective as at the Moment ofEffectiveness of the Order.5.63 Conversion Transactions shall be subject to the multiple-roundprocessing.5.64 The Bank shall be entitled to impose a fee for ConversionTransactions submitted between 18:00 of a Business Day and 8:00of the immediately following Business Day, if an aggregate sum ofsuch Conversion Transactions executed by the Client is in excessof CZK 5 million or an equivalent in a foreign currency convertedusing a KB mid-market Exchange Rate and, at the same time, atleast one of the KB mid-market Exchange Rates quoted in theused exchange lists substantially differs from the nearestsubsequent mid-market exchange rate published by the CNB. Thefee shall be calculated as the difference between the relevant KBmid-market Exchange Rate taken from the used exchange list andthe nearest subsequent mid-market exchange rate published bythe CNB, multiplied by the volume of the particular ConversionTransaction in the given foreign currency, further multiplied by (-1)if the Bank is selling the foreign currency. In case of a ConversionTransaction between two foreign currencies, the resultant fee shallconsists of a sum of fees calculated separately for each of theforeign currencies using the method described in the foregoingsentence. If the value of the fee calculated in this manner isnegative, it shall not be charged to the Client. Otherwise, the Bankshall charge the fee on the second Business Day following theexecution of the given Conversion Transaction at the latest. Thisprovision does not relate to Qualified clients.5.65 The Bank reserves the right to modify the time at which Orders forpayments made in CZK and/or Foreign Payments are settled.O) Limits5.66 The Entity's Limit, User's Account Limit and Individual FX PaymentLimit shall be reduced as from the moment of submission of anKomerční banka, a. s., with the registered office in:Prague 1, Na Příkopě 33, indication no. 969, postcode 114 07, Identification No.: 45317054ENTERED IN THE COMMERCIAL REGISTER KEPT WITH THE MUNICIPAL COURT IN PRAGUE, SECTION B, INSERT 13606/12