Terms and Conditions
GENERAL TERMS AND CONDITIONS FOR USING BIDC BANK BUSINESS SERVICE
I. Scope of Application
The General Terms and Conditions for using BIDC Bank Business (hereinafter referred to as "General Terms and Conditions") is an integral part of the "Registration Request cum Contract for using BIDC Bank Business Service".
When the Customer signs the "Registration Request Contract for using BIDC Bank Business” forms, it means that the Customer has read, understood, and agreed to, and is simultaneously bound by these General Terms and Conditions.
In addition to complying with the terms in these General Terms and Conditions, transactions performed on BIDC Bank Business must comply with the regulations in the Current Account Opening and Usage Contract that BIDC has signed with the Customer.
These General Terms and Conditions apply generally to all corporate Customers using BIDC Bank Business provided by BIDC. Furthermore, for some Services, specific terms and conditions may apply separately, which also form an integral part of these General Terms and Conditions.
These General Terms and Conditions are published on the BIDC Bank official website (https://www.bidc.com.kh/) or at any BIDC transaction point or the bank service channels.
II. Interpretation of terms
Ø BIDC Bank Business: A digital banking service provided by BIDC Bank to corporate customers, enabling financial and non-financial transactions and enhanced utilities via BIDC Business web portal or mobile application provided by BIDC Bank, or through a secure connection to the customer’s information system. The BIDC Bank Business may be used on internet-connected devices such as computers, smartphones, and tablets.
Ø Application: Agreement for Use of BIDC Bank Business (hereinafter referred to as the "Application Agreement" or the "Registration Form"): The document comprising the application agreement for BIDC Bank Business, the annexes thereto, and any related documents.
Ø Customer: Refers to organizations and businesses that have a current account at BIDC and are registered to use BIDC Bank Business.
Ø Transaction: A request or instruction made by the Customer requiring BIDC to process it via the BIDC Bank Business.
Ø Financial Transaction: A transaction that results in a change to the account balance or the financial obligations of the Customer at BIDC.
Ø Service Package: A set of features under BIDC Bank Business categorized by BIDC based on default combinations, service characteristics, customer usage needs, and BIDC policies from time to time.
Ø Transaction Limit: The maximum amount the Customer is permitted to perform or request to perform for a transaction subject to a limit on the BIDC Bank Business System.
Ø Customer User (or "User"): Individuals authorized or delegated by the Customer to use and execute transactions via BIDC Bank Business as per the Customer's registration.
Ø Username: Information provided by BIDC to the Customer User for identification and authentication when accessing and using the Service. Each User’s username is unique.
Ø Authentication Method: The electronic method used by the Customer or Customer User to express consent to data messages in electronic transactions. The authentication method complies with laws, BIDC general regulations, and specific regulations applicable to BIDC Bank Business Service from time to time.
Ø Password: A confirmation method using a string of characters provided by BIDC to the Customer or set by the Customer for the purpose of identifying and authenticating the Customer when accessing and using the BIDC Bank Business service.
Ø OTP: A method of authentication using a secret code that is valid for a single use within a specific time frame and is sent by BIDC system to the Customer. It is often used as a second authentication factor along with a password to verify User access or execute service-related transaction requests. OTP authentication methods include the following types:
· SMS OTP: OTP authentication where the code is sent via SMS (Short Message Service) or messaging over basic internet telecommunications services.
· Email OTP: OTP authentication where the code is sent via email based on the Customer’s registered information.
· Smart OTP: OTP authentication where the code is generated by an application provided by BIDC and installed on the Customer User’s mobile device. The OTP is generated in combination with the specific transaction code. Upon initiating a transaction, the BIDC Bank Business system generates a transaction code, and the OTP is either auto-filled by the system or manually entered by the User.
Ø Smart OTP PIN: A numeric sequence used to control access to the Smart OTP authentication method.
Ø Inquirer User Group: A group of Customer Users authorized to view detailed account information and use common Service Utility functions.
Ø Transaction Maker User Group: A group of Customer Users with viewing rights and the ability to initiate, modify, and update transaction information.
Ø Transaction Approver User Group: A group of Customer Users with viewing rights and authority to approve transactions initiated by Users in the Transaction Maker Group. Transaction approval rights may be delegated according to the approval models registered by the Customer with BIDC.
Ø Transaction Approver & Admin User Group: A group of Customer Users with approval rights and administrative rights for managing Users.
Ø Approval Model: The configuration specifying the number and combination method of Users within designated authority groups to collectively authorize a transaction via BIDC Bank Business. The Approval Model shall be registered by the Customer with BIDC in accordance with its operational requirements and shall at all times comply with applicable laws and BIDC prevailing regulations.
Ø Transaction Time: The period during which transactions are received from the Customer via BIDC Bank Business, as prescribed in Article 3 – Specific Provisions Section, these General Terms and Conditions and the Bank for each specific product from time to time.
Ø Cut-off Time: The latest time within a day by which a transaction may be processed and/or posted on the same day (for transactions processed via an automated flow). Any transaction received by the Bank or eligible for processing after the Cut-off Time shall be processed on the next business day, unless otherwise provided by BIDC for specific types of transactions.
Ø Value Date: Depending on each case, the value date of a transaction shall be determined as follows:
- Transactions effective immediately upon approval: The value date shall be the date on which the final User within the designated Approval Group authorizes the transaction, after which it is transmitted to BIDC for processing.
- Future-dated transactions: The value date shall be the date selected by the User within the Transaction Creation Group at the time of transaction initiation, within the allowable time frame as prescribed by BIDC. The transaction shall only be processed on the selected value date after it has been duly approved in accordance with the Customer’s approval process.
- Transactions received or eligible for processing by the Bank after the relevant transfer channel’s cut-off time or falling on a third party’s non-business day may have their value date deferred by the Bank to the next working day.
Ø Confidential Information: Means the information provided by BIDC Bank to the Customer, including but not limited to usernames, system passwords, access keys, encryption codes used for implementing, maintaining connectivity, and performing the Service between BIDC Bank and the Customer, as well as data transmitted or received via BIDC Bank Business and other authentication methods.
Ø Transaction Confirmation: Means a document generated from the BIDC Bank Business system, containing transaction details as instructed by the Customer, accounting information of the Bank (if applicable), and the approval hierarchy performed via the Customer’s electronic channels. BIDC shall be exempted from any claims, complaints, or legal actions (if any) arising in connection with such transaction confirmation.
Ø Electronically Submitted Documents (Electronic Documents): Means data and documents entered, submitted, or created by the Customer on BIDC Bank Business and approved by the Customer's authorized level.
Ø Disbursement Documentation: Means all Electronic Documents that the Customer must provide to the Bank on BIDC Bank Business to carry out disbursement under the Credit Facility Agreement signed between the Customer and the Bank; and/or under other agreements between the Customer and the Bank; and/or other requirements of the Bank for disbursing loan capital in accordance with BIDC regulations from time to time.
Ø Guarantee Documentation: Means all Electronic Documents that the Customer must provide to the Bank on BIDC Bank Business to issue guarantees, amend guarantees, or discharge guarantees in accordance with the Credit Facility Agreement signed between the Customer and the Bank; and/or other agreements between the Customer and the Bank; and/or other requirements of the Bank, in line with BIDC regulations from time to time.
Ø Credit Commitment Documentation: Means all Electronic Documents that the Customer must provide to the Bank on BIDC Bank Business to partially repay or fully discharge the Customer’s loan at the Bank, in accordance with BIDC regulations from time to time.
Ø Repayment Documentation: Means all Electronic Documents that the Customer must provide to the Bank on BIDC Bank Business to partially repay or fully discharge the Customer’s loan at the Bank, in accordance with BIDC Bank Business regulations from time to time.
Ø Loan Application Documentation: Means all documents, materials, and data that the Customer must provide to the Bank via BIDC Bank Business to carry out loan application procedures, including information on the loan purpose, loan amount, collateral (if any), and other requirements of the Bank related to credit granting, in accordance with BIDC Bank Business regulations from time to time.
Ø Automatic Payment Registration Service: Is a service whereby the customer authorizes BIDC Bank to automatically debit the registered account to make payments to the Service Provider or top up the customer's account opened at the Provider according to the information and conditions registered by the customer.
Ø Service Provider (hereinafter referred to as the “Provider”): Refers to entities that supply goods and services to customers and utilize BIDC Bank services for the collection of receivables from customers.
Ø Term Deposit via Electronic Channel (hereinafter referred to as the “Deposit”): means a term deposit made by the Customer at BIDC Bank via BIDC Bank Business under a Term Deposit Contract.
Ø Maturity Date: means the date the deposit term ends as specified in the Term Deposit Contract. In cases where the Maturity Date falls on a weekend or public holiday as per BIDC Bank regulations, the Deposit shall still mature on such date.
Ø Deposit Term: means the period from the date the Customer initiates the deposit at BIDC Bank until the date BIDC Bank commits to fully repay the principal and interest to the Customer.
Ø Effective Date of the Deposit or Deposit Date: means the starting date of the deposit term. If the deposit is made during non-working hours or on holidays as per BIDC Bank regulations, the Effective Date shall be recorded as the date declared by the Customer to BIDC Bank to begin the deposit term.
Ø
Available Balance of the Source Account (hereinafter referred
to as the “Source Account Balance”): is the amount the Customer is
permitted to spend from the Source Account according to BIDC regulations from
time to time.
Source Account Balance = Source Account Ledger Balance + Total Balance of
Investment Accounts - Blocked Amount (if any).
Ø Certificate of Deposit: is a paper document provided by BIDC to the Customer according to BIDC regulations from time to time to confirm the Deposits established under the Auto-investment term deposit Registration upon the Customer's request.
III. Specific Provision
BIDC Bank provides the BIDC Bank Business Service to the Customer based on the Customer's consent and registration in the Contract signed between BIDC Bank and the Customer. The Customer's agreement to use BIDC Bank Business is understood as agreement to all registered Services and all information, guidelines, regulations, and Terms and Conditions for registration and use of BIDC Bank Business that BIDC Bank applies to those types of services at the time the Customer registers to use the service, as well as any amendments or supplements (if any) during the period the Customer uses the service provided by the Bank.
The BIDC Bank Business services and features are provided in specific Service Packages as determined by BIDC Bank from time to time, suitable for each type of Customer and product/service characteristics.
Upon registration, the Customer must select and register for a Service Package, which includes the services and features effective at the time of registration and those that may be added to the Package by BIDC Bank in the future according to its regulations. BIDC Bank shall notify the Customer of any changes related to the Service Package through appropriate methods as stipulated in the current account opening and usage agreement signed by BIDC Bank with the Customer.
Article 1. Transaction Time
1. The Customer may access and use the BIDC Bank Business Service 24 hours a day, 7 days a week, except during system maintenance or for reasons beyond BIDC Bank control.
2. Timing and Processing Mechanism for Financial Transactions Submitted via BIDC Bank Business
3. For fund transfers to beneficiaries within BIDC Bank system: BIDC Bank shall process the transaction immediately upon receipt. Transactions received during or after the Bank end-of-day processing cycle shall be considered as transactions of the next business day.
4. For fund transfers to beneficiaries outside of BIDC Bank system: the applicable cut-off time of each payment channel shall apply. Transactions received before the cut-off time shall be posted and transmitted on the same day. Transactions received after the cut-off time shall be retained and processed on the next business day, unless otherwise agreed with the Customer.
5. Other transaction requests: shall be subject to BIDC Bank processing time regulations in effect from time to time.
6. The transaction time may be subject to change in accordance with BIDC Bank regulations from time to time.
Article 2. Transaction Execution
1. Transaction orders submitted by the Customer via the BIDC Bank Business are understood to have been received by BIDC Bank if and only if these transaction orders are executed strictly according to BIDC instructions and have been recorded by BIDC system.
2. For transactions that require documentation as stipulated by law, the Customer's transaction order on BIDC Bank Business shall only be considered valid when BIDC Bank receives the complete accompanying transaction documentation for the aforementioned transaction. If BIDC Bank has not received sufficient transaction documentation as required, BIDC Bank shall not be responsible for damages arising from delayed transactions.
Article 3. BIDC Bank Business Service Fees
1. Service fees collected from the Customer include:
a. Service maintenance fee (or annual fee): a fee for maintaining the Customer’s use of BIDC Bank Business services. The Bank will provide prior notice to the Customer of any updates to the fee.
b. Transaction fee: For services subject to fees under the applicable fee schedule, service fees are charged per transaction at the time of transaction or periodically based on the agreement between BIDC and the Customer.
c. Other fees (if any) as stipulated by BIDC from time to time.
2. The service fee schedule is publicly announced on BIDC Bank website and posted at BIDC Bank offices.
3. In case BIDC Bank changes its Fee Policy and/or fee collection method, BIDC Bank shall notify the Customer at least 07 (seven) days before the effective date of such changes via one or more of the following means: (i) posting on BIDC Bank website or at BIDC Bank branches, or (ii) sending an email to the Customer’s registered email address/sending a message to the Customer’s registered phone number/sending a written notice to the Customer’s registered address.
4. The new Fee Policy and/or fee collection methods shall become effective and binding on the Customer if the Customer continues to use the Service from the effective date of such changes.
5. The Service fees are calculated by the Bank based on the service fee schedule and notified to the Customer. Fees may be collected in advance, at the time the transaction occurs, or afterwards, depending on the type of service provided by BIDC Bank. The Customer may not be entitled to a refund of fees if the account has been debited but the credit to the beneficiary fails.
6. The Customer authorizes BIDC Bank to automatically debit any of the Customer’s payment accounts at BIDC Bank for the payment of service fees. For periodically collected fees, BIDC Bank will prioritize debiting the account registered for fee payment. If the registered account does not have sufficient balance at the time of fee collection, BIDC Bank has the right to (i) collect the fee from any other account the Customer maintains at BIDC Bank, including those opened after the transaction date, or (ii) apply other measures as stipulated to fully collect the service fee.
Article 4. Rights and Responsibilities of BIDC Bank
1. Rights of BIDC Bank
a. BIDC Bank has the right to suspend or terminate the provision of BIDC Bank Business Service to the Customer without prior notice in necessary cases, including but not limited to:
· The Customer violates BIDC Bank Terms and Conditions and/or legal regulations on service usage;
· When necessary to protect the Customer from existing or potential fraud-related risks;
· In the event of urgent system maintenance or unexpected technical issues;
· When the Customer’s Authentication Methods are incorrectly entered beyond BIDC allowed limit;
· When the Customer’s User has expired identity documents, position tenure, or power of attorney as declared to BIDC Bank;
· When requested by competent state authorities or as required by law;
· When BIDC Bank discovers or has grounds to suspect that the Customer is involved in fraudulent, scam, money laundering, terrorist financing, proliferation of weapons of mass destruction, sanctions violations/evasion by the United Nations, the US, the EU, Cambodia or other relevant countries, or other legal violations;
· When a force majeure event or emergency situation occurs beyond BIDC Bank control.
b. BIDC Bank reserves the right to refuse to execute transactions; terminate one or some or all valid transaction contracts arising from BIDC Bank Business (including but not limited to: foreign exchange contracts, term deposit contracts, etc.) of the Customer and will notify the Customer no later than 05 days after execution in necessary cases, including but not limited to:
· Transactions with missing or invalid information ((i) Transactions with incomplete or invalid documentation; (ii) Expiration of the exchange rate validity period;
· The Customer's current account has an insufficient balance, is closed, or is invalid;
· The Service provider/partner does not allow electronic payment;
· Transactions showing signs of legal violation or lacking sufficient grounds for processing at the time BIDC Bank performs the transaction;
· As stipulated by law, BIDC Bank from time to time. BIDC Bank reserves the right to refuse to execute transactions; terminate one or some or all valid transaction contracts arising from BIDC Bank Business (including but not limited to: foreign exchange contracts, term deposit contracts, etc.) of the Customer and will notify the Customer no later than 05 days after execution in necessary cases, including but not limited to:
c. Depending on the specific case, BIDC Bank may send notifications to the Customer through appropriate methods as stipulated in the Current Account Opening and Usage Agreement signed by BIDC Bank with the Customer.
d. BIDC Bank reserves the right to reclaim transaction amounts arising from operational errors or system incidents, including but not limited to: (i) Withdrawals exceeding the balance or in excess; (ii) Erroneous or excess credit entries to the Customer’s current account; (iii) Debt collection transactions with incorrect loan accounts, incorrect debit accounts, or incorrect collection amounts; (iv) Disbursement transactions with incorrect interest rates, incorrect terms, incorrect amounts, incorrect disbursement purposes, or incorrect beneficiary information; (v) Transactions involving the issuance/amendment of guarantees or issuance of credit commitments with incorrect issuance/amendment request information. (vi) As stipulated by law, BIDC from time to time.
e. BIDC Bank reserves the right to require the Customer to meet appropriate conditions to perform transactions, including but not limited to requiring the Customer to transfer funds or maintain a sufficient deposit balance in the Current Account; maintain sufficient available limits to perform disbursement and guarantee transactions; fully comply with credit granting conditions; present documents and records as per current regulations; and implement collateral measures (such as freezing the Customer's current accounts, deposit contracts at the Bank, etc…) to execute transactions and contracts on BIDC Bank Business as required for each specific operation.
f. BIDC Bank reserves the right to require the Customer to resolve all disputes, claims, complaints, and compensation for damages in cases where the Customer violates the terms of the Agreement signed with BIDC Bank or in cases of termination or amendment of signed Agreements causing damage to the Bank. In such cases, BIDC Bank reserves the right to debit or freeze the disputed amount and any fees incurred when the dispute is brought before judicial bodies (Courts, Arbitration).
g. BIDC Bank reserves the right to independently or jointly apply measures such as freezing/processing collateral/automatically debiting/performing settlement procedures for any of the Customer's deposit accounts at BIDC Bank branches to settle the Customer's outstanding obligations to the Bank, including but not limited to: foreign exchange contracts, service fees for using BIDC Bank Business , and other financial obligations (if any) arising from the Customer's request to perform transactions on BIDC Bank Business . If the Customer has deposit accounts at other credit institutions, the Bank is entitled to request freezing by virtue of this Agreement and the General Terms and Conditions, and the Customer authorizes the Bank to issue a debit authorization to freeze, debit/perform settlement procedures for the Customer's deposit accounts at those credit institutions to collect debts. After execution, BIDC Bank will notify the Customer through the methods stipulated in the Current Account Opening and Usage Agreement signed by BIDC Bank with the Customer. If the Bank has applied the aforementioned debt recovery measures but the Customer's obligations have not been fully met, the Bank reserves the right to recourse, and the Customer shall remain obligated to pay the outstanding portion of the obligation and agrees to liquidate all other assets (if any) to fulfill the obligations to the Bank.
h. BIDC Bank reserves the right to choose to use third-party services to execute transactions as requested by the Customer.
i. BIDC Bank shall not be liable for any damage or loss arising during the Customer’s use of the Service, unless such damage or loss is determined to be due to BIDC Bank own fault, including:
· Errors made by BIDC Bank staff or third-party partners during service provision, provided that the Customer has fully complied with BIDC relevant regulations when using the Service;
· Errors arising from the BIDC Bank Business system or BIDC related systems, except those previously notified by BIDC via the Service interface and/or its official website.
j. Compensation for damages: Within a maximum of 05 working days from the date BIDC Bank informs the Customer of its liability for the damage, BIDC Bank shall compensate based on mutual agreement or in accordance with applicable regulations.
k. Responsibility for third-party partners: BIDC Bank shall be liable to the Customer if the third-party partner provides services or information related to the Service in violation of regulations or engages in fraudulent behavior.
l. BIDC Bank shall not be liable for any direct or indirect damages incurred by the Customer arising from or due to:
· Errors, mistakes, or intentional misuse by the Customer’s Users in using the Service or accessing Service-provided information; or
· The Customer’s loss, theft, or disclosure of login name, password, digital signature, and/or other Authentication Methods provided by BIDC Bank, leading to unauthorized use and damages to the Customer and/or any third party; or
· Use of programs, software, documents, or following instructions not provided by BIDC Bank; or
· The lack of integrity or authenticity of messages sent to the Customer not caused by BIDC Bank; or
· Any interruption, delay, unavailability, or incident during service provision arising from causes beyond BIDC Bank reasonable control, including but not limited to: (i) Scheduled system upgrades or repairs; (ii) Connection failures by Internet service providers; (iii) Disruptions caused by bill payment providers or BIDC Bank service partners; (iv) Force majeure events, including but not limited to natural disasters, strikes, or directives from the Government, state agencies, or other competent authorities.
m. BIDC Bank reserves the right to provide information as stipulated to customers and competent state management agencies.
n. BIDC Bank reserves the right to stipulate and change system usage fees, including but not limited to: annual fees, registration/amendment/termination fees for service use; maintenance fee, modification fees, issuance/ re-issuance for login passwords fees, security devices fees; and fees for each transaction.
2. Responsibilities of BIDC Bank
a. BIDC Bank undertakes to ensure uninterrupted operation of the system during BIDC Bank Business transaction hours, except in cases of force majeure as stipulated in these General Terms and Conditions, or during scheduled maintenance or upgrades with prior notification. In the event of an incident, the Bank shall rectify it in the shortest possible time.
b. BIDC Bank shall provide the Customer with the necessary standards, technical specifications, and user guides for connecting to and using BIDC Bank Business Service. BIDC Bank shall also guide the Customer in implementing safety and security measures during service usage.
c. In the event that BIDC Bank or a third-party partner plan to repair or maintain the system and is required to temporarily suspend the Service (excluding cases specified in Clause 5 of this Article), BIDC Bank shall notify the Customer at least 02 working days in advance of the service suspension date.
d. BIDC Bank provides customers with a solution that allows them to monitor the transaction processing progress, including transaction information based on customer instructions, the bank's accounting information (if any), and approval levels on the customer's electronic channel.
e. BIDC Bank commits to having full legal capacity and financial capacity for executing and signing, including but not limited to, the following types of contracts with Customers: Foreign Exchange Contracts, Deposit Contracts, and Credit Contracts.
f. To maintain confidentiality of information related to customers, accounts, and transactions in accordance with legal provisions.
3. BIDC Bank has other rights and obligations as stipulated by law, set forth in these Terms and Conditions, and in other agreements between the Customer and BIDC Bank (if any).
Article 5. Rights and Responsibilities of the Customer
1. Rights of the Customer
a. The Customer shall have the right to request BIDC Bank to register, amend, supplement, or cancel the Service or access rights, as well as to make other requests relating to the use of the Service in accordance with BIDC Bank regulations.
b. The Customer may request to temporarily suspend or terminate the use of the Service at any time by submitting to BIDC Bank a written request in the form provided by BIDC Bank. Once the request is processed by the Bank, the Customer will no longer be able to use the login name, password, and/or any other Authentication Methods provided by BIDC Bank.
c. The Customer shall have the right to request BIDC Bank to perform settlement obligation in accordance with the provisions of the contracts, including but not limited to contracts such as: deposits, etc.
d. The Customer may contact the Customer Service at BIDC Bank Head office or branches for support if the Customer identifies any mistake or error during the transaction processing by BIDC Bank. Potential issues include but are not limited to:
· Errors in processing the Customer’s transactions;
· Transactions that the Customer did not initiate;
· Fraud or forgery in the course of using the Service;
· Other issues as prescribed by BIDC Bank.
e. To be informed by the Bank of events or situations where the Bank suspects risks that may affect the safe processing of transactions via BIDC Bank Business. The customer understands and agrees that the Bank may refuse to execute transactions via BIDC Bank Business to protect the Customer's interests in the transaction.
2. Responsibilities of the Customer
a. Comply with the laws and BIDC Bank regulations on account opening, usage, and management, e-commerce transactions, foreign exchange control regulations, and other provisions related to transactions executed by the Customer;
b. Ensure sufficient current account balance and available credit line balance under the Credit Agreement at the time of approving transactions submitted to the Bank (for transactions processed automatically) or at the time the Bank approves the transaction. In cases where the Customer has an agreement with the Bank allowing transactions to be submitted when the account balance is insufficient, the system will automatically store the transaction, and the Customer must fully replenish the balance within a maximum of 06 (six) hours and within the effective day of the transaction, as per the specific service regulations.
c. Use the information and Service for the correct purposes, in accordance with BIDC Bank procedures and guidance documents;
d. Take measures to ensure safety and confidentiality when using BIDC Bank Business in accordance with BIDC Bank instructions.
e. Be obligated, at its own expense, to fully equip and regularly maintain the quality of connection machinery, equipment, system software, application software, etc., to ensure secure connection and access to the Services.
f. The Customer shall be responsible for implementing all necessary measures to protect information security when using the Service, including but not limited to:
· Strictly managing confidential information: Not recording or storing confidential information in any place that may be accessed without authorization; Not disclosing confidential information to any unrelated individual or organization.
· Implement all necessary measures to prevent unauthorized use of the Services.
· Protecting devices when using the Service:
· After logging into the Service, the Customer shall not leave the device unattended or allow others to use the device while connected to the Service;
· Not exposing any information related to Authentication Methods on the device while using the Service.
g. The Customer shall bear full responsibility for all costs, losses, and damages arising from:
· Disclosure of confidential information by the Customer or its theft or unauthorized use;
· Internal system failures of the Customer that result in unauthorized individuals accessing the Service;
· Security breaches originating from the Customer's enterprise system.
· The username, password, or information related to the confirmation method being exposed, stolen, or misused due to reasons originating from the Customer or User, leading to risks and damages caused by unauthorized use.
· The Customer’s failure to comply with the provisions of these General Terms and Conditions.
h. Pay in full and on time, and agree to authorize BIDC Bank to automatically debit the Customer's current account to settle fees as stipulated by BIDC Bank related to the use of Services and transaction execution.
i. Cooperate with BIDC Bank to resolve any errors or incidents arising during the use of the Services.
j. Indemnify BIDC Bank in the event BIDC Bank is sued, accused, held liable, fined, or incurs any costs related to the Customer's use of the Services, including, but not limited to:
· Disclosure or unauthorized use of the Customer’s confidential information not caused by BIDC Bank fault;
· The Customer’s breach of any terms of these General Terms and Conditions;
· Misuse or exploitation of the Customer’s device used to access the Service by a third party or due to improper use or configuration;
· Any third-party claims arising from the above-mentioned causes.
f. To notify and request BIDC Bank to promptly update the phone number, email for receiving OTP codes or transaction confirmation method using one of the following methods as per BIDC Bank regulations from time to time, including: contacting a BIDC Bank transaction point, requesting changes on BIDC Bank Business.
g. To be responsible for all obligations and transactions performed during the period of using the Service, even if the Service has been suspended or terminated.
h. To refund or coordinate with BIDC Bank to refund amounts credited to the current account due to error or mistake, if legal ownership cannot be proven.
i. To commit and guarantee that the registration of BIDC Bank Business User permission groups and the BIDC Bank Business transaction approval model comply with legal regulations, the Customer's internal regulations, and BIDC regulations from time to time.
j. To commit that the contact and transaction information declared in the Registration cum Service Agreement for BIDC Bank Business is the Customer's current legal contact and transaction information. This information is for BIDC Bank to send all documents and transaction materials during the implementation of these General Terms and Conditions, and invitations, notices, deliveries, public postings from competent state agencies to require the Customer to fulfill obligations to BIDC Bank.
k. The Customer must notify BIDC Bank within 5 days from the date of changing contact or transaction information. BIDC Bank shall not be responsible for damages arising from the Customer's failure to notify or untimely notification of such changes.
l. The Customer understands and agrees that the digital signature information provided by the Customer to the Bank may be transferred to the digital signature certification service provider for the purpose of receiving, verifying, and cross-referencing digital signature information.
m. In the event of errors arising in BIDC Bank Business (including but not limited to cases where the Bank's digital signing approval status is erroneous), within 5 days from the date the Bank notifies the Customer, the Customer is responsible for returning the hard copies of Disbursement documents, Guarantee documents, Credit commitment issuance documents, Loan application documents to the Bank within the period specified by the Bank from time to time.
n. The Customer agrees for the Bank to automatically post transactions based on the transaction information sent by the Customer to the Bank and approved by the Bank for execution via BIDC Bank Business.
3. The Customer has other rights and obligations as stipulated by law, these General Terms and Conditions of transaction, and other agreements with BIDC Bank (if any).
Article 6. Force Majeure Event
1. A Force Majeure Event is an event that occurs objectively, is unforeseeable, and is beyond the control, prevention, and anticipation of the party experiencing the force majeure, including but not limited to: epidemics, lightning strikes, fires, floods, storms, natural disasters; strikes, riots, civil disturbances, coups, industrial actions, wars, accidents, and similar cases; or caused by a third party not involved in the contract (power outages, telecommunications failures); or caused by laws, declarations, or decisions of a competent authority.
2. Neither party shall be held liable for the non-performance or incomplete performance of the agreed terms in this Contract due to a Force Majeure Event.
3. No later than 24 hours from the occurrence of a Force Majeure Event, the party suffering damage/affected by the Force Majeure Event shall be responsible for notifying the other party so that both parties can discuss remedial measures, solutions, or measures to prevent or mitigate damages.
4. During the period of a Force Majeure Event, the Party affected by the Force Majeure Event shall be responsible for immediately implementing appropriate measures to minimize or eliminate the consequences of such Force Majeure Event and shall still endeavor to perform its obligations under the actual circumstances and to the extent possible.
5. Immediately upon the cessation of a Force Majeure Event, the Parties' obligations under the contract shall be immediately reinstated. The Party affected by the Force Majeure Event shall immediately perform the obligations that it was unable to perform during the Force Majeure Event, unless otherwise agreed by the Parties.
6. If a Force Majeure Event lasts for more than 6 months or causes severe consequences leading to the Parties being unable to perform this Contract, BIDC Bank shall have the right to terminate the use of BIDC Bank Business Service. BIDC Bank handling of the termination of BIDC Bank Business Service in this case shall be carried out in accordance with Article 12 of these General Terms and Conditions.
Article 7. Amendments and Supplements to the General Terms and Conditions
1. BIDC Bank reserves the right to amend the contents of these General Terms and Conditions from time to time to upgrade or adjust the Service to comply with legal requirements and to ensure the interests of both the Customer and BIDC Bank.
2. Notice of changes:
a. BIDC Bank shall publicly post the amended documents at its transaction points, publish them on its official website, on the BIDC Bank Business application/program, or notify by other appropriate means as specified in Article 9 of these General Terms and Conditions.
b. The notice shall be made at least 05 (five) working days prior to the effective date of the amendment, except where immediate implementation is required under the law or by competent state authorities.
3. In case of changes or adjustments to the Service or utilities included in the service package, BIDC Bank shall widely notify such changes on its website or by other suitable means as per BIDC Bank prevailing regulations. The Customer shall comply with BIDC Bank instructions to continue using the Service.
4. The Customer shall be deemed to have accepted the amendments and supplements to the Registration cum Contract and the General Terms and Conditions if the Customer does not complete the procedures to terminate the Service before the effective date of such amendments, or within 05 (five) working days from the date BIDC Bank issues the notice (if the notice does not specify the effective date).
5. All amended or supplemented documents to these General Terms and Conditions and any accompanying materials (if any) shall form an integral part of the Registration cum Contract and shall be binding on the parties.
Article 8. Effectiveness of the Agreement and Termination of the Service
1. These General Terms and Conditions shall be governed by the relevant laws of Cambodia.
2. Both parties commit to strictly implement the terms in these Terms and Conditions and any amendments, supplements, and attached appendices (if any). In case a dispute arises during implementation, both parties shall jointly resolve it through negotiation or mediation. If negotiation or mediation fails, either party has the right to bring the dispute to the competent People's Court for resolution in accordance with the law.
3. The duration of Service provision and use shall be effective from the date the Customer signs the Registration cum Contract for BIDC Bank Business Service until either party terminates the Service provision/use as agreed or in accordance with the Terms and Conditions. Upon termination of the Service, the Customer must fulfill all obligations unless otherwise agreed in writing.
4. Language: The Registration cum Contract and these General Terms and Conditions are made in English.
5. Cases of termination of Service provision/use not subject to mutual agreement include: (i) BIDC Bank is no longer able to provide the Service due to causes beyond its control, prevention, or foresight; (ii) The Customer no longer qualifies for the Service under these General Terms and Conditions; (iii) The authorized representative performing under the General Terms and Conditions is not accepted by BIDC Bank.
6. If either party breaches any provision of these General Terms and Conditions, the aggrieved party shall have the right to unilaterally terminate or suspend the Service.
7. If any provision or part thereof is rendered invalid under applicable law, the remaining provisions of these General Terms and Conditions shall remain in full force and effect.
Article 9. Terms and Conditions of Term Deposit Transaction via Electronic Channels for Corporate Customers of BIDC Bank
Term deposit products via electronic channels provided by BIDC Bank to corporate customers (“Corporate Customers” or “Customers”) (hereinafter collectively referred to as “Term Deposit Products”) shall be subject to the General Conditions for Term Deposit Transaction via Electronic Channels for Corporate Customers of BIDC Bank (hereinafter referred to as the “General Transaction Terms”), including:
a. Flexible Term Deposit products.
b. Other products available on BIDC Bank Business are subject to BIDC Bank regulations from time to time. The specific product applicable to the Customer’s Term Deposit shall be specified in the Term Deposit Contract.
By signing the Term Deposit Contract:
1. The Customer confirms having read and clearly understood all provisions under the General Transaction Conditions.
2. BIDC Bank and the Customer agree to comply with and be bound by the General Transaction Conditions.
(BANK FOR INVESTMENT AND DEVELOPMENT OF CAMBODIA PLC.)