Common use of Current Account Clause in Contracts

Current Account. a. The Customer confirms that the Customer has not been reported by any bank to the credit bureau set up by Bank Negara Malaysia, and acknowledges that the Bank has the right to close the account if the Customer is so reported and the Bank in good faith believes it negatively impacts the Customer’s credit rating. b. The Customer is required to check upon receipt, that: • the Customer has received the correct number of cheque books; • each cheque book has the correct number of cheque leaves; • account details printed are correct; and • to read and carry out all the instructions set out in the inside covers of cheque book; c. The Customer agrees to keep the cheque book secure and under the Customer’s sole control at all times. If the Customer fails to do so, the Bank shall not be liable for any misappropriation of the cheques. d. The Customer agrees not to write cheques in a way which may allow the cheque to be tampered with or facilitates fraud, and to take precautionary measures such as, but not limited to: • using only non-erasable ink (not erasable ballpoint pens, pencils, electronic typewriter or any other instruments); • not leaving signed or unsigned cheques unattended; • not pre-signing cheques in blank; and • destroying completely spoilt cheques; failing which no liability shall be attached to the Bank. e. The Customer agrees: • not to write any notations on the face of a cheque, and if any are written, the Bank has the right to ignore the notations without being liable to the Customer; and • not to make any changes on a cheque, and the Bank has the right to dishonour and return a cheque which the Bank views as having any changes, even if countersigned by the authorised signatories. f. The Customer agrees not to issue cheques when there are insufficient funds in the account. Penalty charges for returned cheques due to insufficient funds as stated for the time being in the Bank’s Tariff and Charges which can be viewed at the Bank’s website will be charged and debited to the account. g. The Customer acknowledges that a stop payment instruction may only be carried out if the cheque has not been presented for payment, and once carried out, cannot be reversed and: • the words “stop payment” will be stamped on the cheque; • re-presentation of the cheque is not allowed; and • handling fees and penalty charges (if the account has insufficient funds for the cheque) will be charged and debited to the account.

Current Account. a. Qualification Subject to the Bank’s sole discretion and applicable laws and regulations in the U.A.E., the Customer is only eligible to open a Current Account if the Customer is resident (as defined by the U.A.E. Central Bank from time to time) in the U.A.E. and has full legal capacity. A. lssuance of Cheque Books a) Issuance of cheque books to Customers to enable them to operate the Account, shall be at the sole discretion of the Bank. Such cheque book may only be issued to Customers who are resident in the U.A.E. Customers who are or who subsequently become non-residents of the U.A.E. are not eligible to continue to maintain Current Accounts. The Customer confirms may request the Bank to issue a cheque book provided that the Customer has shall pay all costs related to the issuance of such a cheque book. Cheque books issued by the Bank may be sent by regular mail and/or courier to the Customer or made available for collection by the Customer or his authorized representative from the branch at which the Account is maintained. If the Customer chooses to have cheque books delivered to him, he shall be liable for any loss or damage resulting from any failure or delay in the delivery of the cheque book to him. b) The Customer is not been reported entitled to overdraw an Account without the Bank’s prior consent. Interest (calculated on a daily basis based on a 360 day year) on overdrafts will be at rates determined by the Bank. Principal and interest under an overdraft shall be repayable by the Customer on demand. c) Withdrawals by the Customer may be made in cash against cheques. Withdrawals by any bank other means may be permitted at the sole discretion of the Bank. d) The Bank may without enquiry honor any cheques, bills of exchange, promissory notes or other orders for the payment of money and may debit the amount paid to the Account, whether the Account is in credit bureau set up by Bank Negara Malaysia, and acknowledges that the or overdrawn. The Bank has the right to close the account refuse to honour such instruments if the Customer is so reported Account does not have adequate funds and the Customer has not made prior arrangements with the Bank for an appropriate overdraft facility. The Bank shall have no responsibility or liability to the Customer in good faith believes the event that it negatively impacts refuses to honour such instruments or refuses to make available an overdraft facility. e) Unless otherwise agreed in writing, the Customer will promptly and without any require- ment of notice from the Bank deposit funds in the Customer’s credit rating. b. The Customer is required to check upon receiptAccount in an amount not less than the amount overdrawn. Unless otherwise agreed in writing, that: • the Customer has received understands that the correct number of cheque books; • each cheque book has the correct number of cheque leaves; • account details printed are correct; and • Bank is not obliged to read and carry out all the instructions set out permit an overdraft in the inside covers of cheque book; c. The Customer agrees to keep the cheque book secure and under the Customer’s sole control at all times. If Account or to continue to permit overdrafts in the Customer fails to do so, the Bank shall not be liable for any misappropriation of the chequesCustomer’s Account after having done so previously. d. f) The Customer agrees Bank does not to write cheques accept any responsibility in a way which may allow the cheque to be tampered with or facilitates fraud, and to take precautionary measures such as, but not limited to: • using only non-erasable ink (not erasable ballpoint pens, pencils, electronic typewriter or any other instruments); • not leaving signed or unsigned cheques unattended; • not pre-signing cheques in blank; and • destroying completely spoilt cheques; failing which no liability shall be attached to the Bank. e. The Customer agrees: • not to write any notations on the face event of a cheque, and if any are written, post dated cheque being inadvertently or otherwise honored before the Bank has the right to ignore the notations without being liable to the Customer; and • not to make any changes on a cheque, and the Bank has the right to dishonour and return a cheque which the Bank views as having any changes, even if countersigned by the authorised signatoriesdue date. f. The Customer agrees not to issue cheques when there are insufficient funds in the account. Penalty charges for returned cheques due to insufficient funds as stated for the time being in the Bank’s Tariff and Charges which can be viewed at the Bank’s website will be charged and debited to the account. g. The Customer acknowledges that a stop payment instruction may only be carried out if the cheque has not been presented for payment, and once carried out, cannot be reversed and: • the words “stop payment” will be stamped on the cheque; • re-presentation of the cheque is not allowed; and • handling fees and penalty charges (if the account has insufficient funds for the cheque) will be charged and debited to the account.

Current Account. a. The Customer confirms that the Customer has not been reported by any bank to the credit bureau set up by Bank Negara Malaysia, and acknowledges that the Bank has the right to close the account if the Customer is so reported and the Bank in good faith believes it negatively impacts the Customer’s credit ratingreported. b. The Customer is required agrees to check upon receipt, that: • the Customer has received the correct number of cheque books; • each cheque book has the correct number of cheque leaves; • account details printed are correct; and • to read and carry out all the instructions set out in the inside covers of cheque book;; and if the Customer fails to do any of it, the Bank shall not be liable for any loss suffered by the Customer. c. The Customer agrees that it is the Customer’s responsibility to keep the cheque book secure (preferably locked) and under the Customer’s its sole control at all times. If , and if the Customer fails to do so, the Bank shall not be liable for any misappropriation of loss suffered by the cheques. d. Customer. The Customer agrees not to write cheques in a way which may allow the cheque to be tampered with or facilitates fraud, and to take precautionary measures such as, but not limited to: • using only non-erasable ink (not erasable ballpoint pens, pencils, electronic typewriter or any other instruments); • not leaving signed or unsigned cheques unattended; • not pre-signing cheques in blank; and • destroying completely spoilt cheques; failing which no liability shall be attached to the Bank. e. d. The Customer agrees: • not to write any notations on the face of a cheque, and if any are written, the Bank has the right to ignore the notations without being liable to the Customer; and • not to make any changes on a cheque, and the Bank has the right to dishonour and return a cheque which the Bank views as having any changes, even if countersigned by the authorised signatories. f. e. The Customer agrees not to issue cheques when there are insufficient funds in the account. Penalty charges for returned cheques due to insufficient funds as stated for the time being in the Bank’s Tariff and Charges which can be viewed at the Bank’s website ▇▇▇.▇▇▇▇.▇▇▇.▇▇ will be charged and debited to the account. g. f. The Customer acknowledges that a stop payment instruction may only be carried out if the cheque has not been presented for payment, and once carried out, cannot be reversed and: • the words “stop payment” will be stamped on the cheque; • re-presentation of the cheque is not allowed; and • handling fees and penalty charges (if the account has insufficient funds for the cheque) will be charged and debited to the account.