General Conditions
Transcription
General Conditions
General Conditions This is a free translation of the French original version These General Conditions govern the relationship between the Banque Cantonale de Genève, hereinafter called "the Bank", and its clients. Article 1 - Right of disposal Irrespective of any different registration in the Commercial Register or any other official publication, only those signatures notified to the Bank in writing are valid until written notice of cancellation is given. Special agreements relating to the identification of the client by means of a code, password or any other technical means form an exception to this rule. Article 2 - Complaints by the client Any complaint relating to the execution or non-execution of orders, or any objection to an account or deposit statement must be lodged in writing immediately after receipt of the relevant statement, but not later than one month from the date of its issue or the date from which the information is available to the client by technical means supplied by the Bank. The same applies if a client does not receive an expected statement or other communication within the normal period of time. In this case, the client should contact the Bank in order to obtain any information which the client considers to be useful for him/her. The client is liable for any loss or damage caused by a late complaint. To be valid, all complaints must be presented in writing to the Bank and received by the Bank within the time limit set out in this Article. Article 3 - Communications from the Bank Communications from the Bank are deemed to have been made when they have been sent to the last address given by the client. The Bank will, in particular, not be liable for the consequences of incomplete, imprecise or obsolete information provided by the client. Correspondence which the Bank is to hold at the client’s request is deemed notified as of the date it bears. Article 4 - Authentication of signatures and identification. Undetected fraud. The client is liable for any loss or damage resulting from faulty identification or from undetected fraud except in case of gross negligence on the part of the Bank. This provision applies particularly to payment orders and cheques. Article 5 - Legal incapacity and guardianship When contracting with the Bank, the client certifies that he is not subject to an act of guardianship and that his legal capacity is not subject to any restriction. The client is liable for any loss or damage resulting from an infringement of a restriction to his/her or a third party’s legal capacity and particularly to that of one of his representatives, unless such a restriction concerning the client has been published in the Official Gazette of the Republic and Canton of Geneva (Feuille d’Avis Officielle de la République et canton de Genève) after the commencement date of the receipt of the Bank’s services or, in the case of the third party, after receipt of written notification to the Bank. Article 6 - Recording of telephone conversations The client is informed and accepts that telephone conversations to or from the Bank may be recorded in order to clarify any misunderstandings, promote rapid execution of orders, assure security of transactions and avoid disputes. The Bank guarantees to the client that such recordings will be treated in confidence and that they will be regularly destroyed except in the event of a dispute or legal action. 5002A11 Article 7 - Transmission errors The client is liable for losses or damages resulting from the use of the postal service, telephone, telex, fax, electronic message systems (emails) and all other means of transmission or of a delivery service except in the case of gross negligence on the part of the Bank. The client therefore particularly assumes the risks of the message being lost, intercepted or delayed resulting therefrom. Article 8 - Faulty execution of an order In the case of damages due to the non-execution or the faulty execution of an order (except stock exchange orders which are subject to special provisions), the Bank is only liable for possible lost interest unless the Bank was warned in writing of the risk of more extensive losses or damages. Article 9 - Right of lien and compensation For all its claims, irrespective of their nature, maturity or the currencies in which they are denominated, the Bank is the beneficiary of a right of lien on all the assets, in whatever form, held in its custody at the Bank or elsewhere for the account of the client. As a creditor, the Bank is also the beneficiary of a right of compensation for its claims. The Bank also has a right of lien and compensation in respect of loans and credits granted, whether unsecured or against specific guarantees. A right of lien is also held on registered securities. In the event of default by the client, the Bank is authorised to enforce these liens by mutual agreement or to act through legal proceedings. Article 10 - Current accounts The Bank credits and debits taxes, interest, commissions and fees whether agreed or customary, quarterly, semi-annually or annually at its option. In the absence of a written complaint received by the Bank within one month of issue, statements of account issued by the Bank are deemed to have been approved, even if the confirmation to be signed by the customer has not been received by the Bank. The express or tacit approval of the statement of account includes the approval of alI items, as welI as of possible reservations on the part of the Bank which are contained in this statement. If the customer has given several different orders, the total amount of which exceeds the credit balance available or the credit granted to him/her, the Bank is entitled to decide at its discretion and without consideration to their dates or to the time of reception, which of the orders to execute in whole or in part. The Bank is authorised to reverse any credit entry to an account which has been made erroneously or fraudulently. Similarly, a client who discovers a credit to which he is not due on one of the services rendered by the Bank must inform the Bank without delay. Article 11 - Assets in foreign currencies The corresponding value of the assets of the client denominated in a foreign currency is invested in the name of the Bank but on the client’s behalf and at his risk with correspondents which the Bank considers trustworthy in the relevant monetary area or outside. In particular, the client bears the risk resulting from legal or administrative restrictions, taxes and charges collected in the relevant country as well as risks associated with the transfer of funds. If the client only has accounts in foreign currencies, the amount is credited at the Bank’s choice, in one of those currencies. The client may dispose of his assets in foreign currencies by way of sale, of transfer order, by drawing or purchasing cheques, by a withdrawal of cash or by any other means agreed by the Bank. Article 12 - Credits and debits of amounts in foreign currency All credit and debit transactions of amounts in foreign currency are executed in Swiss Francs unless the client has an account in the corresponding currency or has given instructions to the contrary in good time. Banque Cantonale de Genève Document in 1 copy - 1/2 Copy for the client General Conditions This is a free translation of the French original version Article 13 - Adjustment of interest, fees, charges and conditions The Bank reserves the right to adjust interest rates, commissions and all other conditions and fees associated with its services at any time and with immediate effect, particularly if the situation in the money market changes. The Bank will inform its clients by one or more of the following means: circulars, the availability of brochures on its premises, notices in its branches, publication on its Internet site (www.bcge.ch) or in any other manner which the Bank judges to be appropriate. Article 14 - Bills of exchange, cheques and other similar instruments The Bank is entitled to debit unpaid bills of exchange, cheques and other instruments which had been discounted or credited. Nevertheless, until the settlement of any debit balance, the Bank retains, against every party liable on the instrument, claims for payment of the full amount of the bills of exchange, cheques and of alI other instruments as welI as accessory claims whether advances under the law on negotiable instruments, cheques or other claims. The client also accepts all liability which can result from recourse by a third party in the context of collection against such documents, even if recourse is exercised at a later date. Article 15 - Termination of business relations The Bank reserves the right to cancel in whole or in part any business relationships with the client with immediate effect, in particular to cancel credits which have been promised or used, in which case any advance made by the Bank will be due for immediate repayment. Exceptions to the above are agreements made in writing to the contrary. Article 16 - Public holidays In aIl relations with the Bank, public holidays are holidays which are recognised as such in Geneva. Saturday is considered as an officially recognised holiday. Article 17 - Dormant accounts In order to avoid accounts becoming dormant, any change in the client’s domicile, including the client’s domicile for tax purposes, his/her address and/or mailing instructions should be immediately communicated to the Bank by the client in writing. The client authorises the Bank to take any necessary steps to find him/her or his beneficiaries as soon as it realises that the communications it sends do not reach him/her. The Bank preserves the client’s rights when the accounts become dormant. It is authorised to diverge from the contractual provisions in the client’s presumed interest and at the client’s expense and risk. The Bank invoices to the client the costs arising from the Bank’s investigations undertaken with the purpose of maintaining or restoring contact with the client or by the particular treatment and the supervision of dormant accounts. Article 18 - Information relating to the client During the course of its activities, the Bank will strictly comply with its duty of confidentiality (banking secrecy) in the relations it maintains with the client. Nevertheless, the Bank is released from banking secrecy to the extent that it is necessary to comply with relevant Swiss or foreign regulations and in particular with respect to securities or shares traded on foreign stock exchanges or financial market-places or with respect to refinancing with the Central Mortgage Bond Institution of the Swiss cantonal banks. The Bank is authorised to collect and including sensitive information, relating purposes and which it judges to be particularly for the purpose of creditworthiness. process any information, to the client for its own useful for its activities, assessing the client’s Article 19 - Outsourcing and collaboration The Bank can outsource to qualified third-parties, all or part of its activities (for instance: IT processing, payment handling, securities transactions, management, investment consultancy, etc.) and can communicate all relevant data to the assignee to this effect, within the limits set by regulations in force. Subject to any binding legislation, such third parties are exclusively liable for losses caused by their errors. The bank also draws the customer’s attention to the fact that it operates using SWIFT (Society for Worldwide Interbank Financial Telecommunication) mainly in conducting payment and securities transactions. In accordance with legal requirements, the processing of both cross-border and Swiss payment or securities transactions involves communicating, to the banks concerned as well as the operators of Swiss and foreign systems, details regarding the instructing party, in particular, name, address, account (IBAN number) or deposit number, effective beneficiary, etc. The data transmitted and recorded abroad fall outside the scope of Swiss legislation and foreign authorities can have access to it in accordance with the legal provisions in force in the country in which the data are recorded. As part of its business relationships and banking secrecy, the Bank may be induced to invest in and/or collaborate with third parties and to agree payments, commissions, income or other benefits in its favour or for its account. The client accepts that these benefits form part of bank’s remuneration and recognises that these practices involve contractual freedom and the Bank’s commercial secrecy. Article 20 - Special provisions In addition to the present General Conditions, some special conditions established by the Bank govern certain areas. The Bank also observes banking and commercial practices; stock market trading is subject to the rules and practices of the relevant market; documentary credits are subject to the rules and practices of the International Chamber of Commerce. The above is subject to any special agreement between the client and the Bank. Article 21 - Amendment of the General Conditions The Bank retains at alI times the right to amend the General Conditions and any special conditions. Such amendments are notified to clients by one or more of the following means: circulars, the availability of such information on its premises, notices in its branches, publication on its Internet site (www.bcge.ch) or in any other manner which the Bank judges to be appropriate. Unless objections are received in writing by the Bank within one month, any changes are considered to be approved. Article 22 - Applicable law and place of jurisdiction All legal relations between the client and the Bank are subject to Swiss Law. The place of performance of all obligations, the place of jurisdiction for clients domiciled abroad and the sole place of jurisdiction for any proceedings of any nature whatsoever is Geneva. However, the Bank reserves the right to take legal action at the domicile of the client or before any other competent court. Article 23 - Prevailing text In the event of differences of interpretation of the two texts, the French version of the General Conditions in effect and available to the client shall prevail. 5002A11 (Ed. 2010) Banque Cantonale de Genève Document in 1 copy - 2/2 Copy for the client