Common use of Responsibility and Promise of Payment Clause in Contracts

Responsibility and Promise of Payment. The Holder will be responsible for all ATM withdrawal transactions and purchases made with the Card. The provisions of Regulation E, which regulates electronic fund transfers in individual accounts and the liability of financial institutions and consumers for unauthorized use, do not apply to Commercial Accounts. Any debit to the Account that corresponds to funds withdrawn through the use of the Card and the secret number, in the case of the Regular ATH, will be understood as authorized. In the case of the Debit Mastercard, any debit to the Account that corresponds to funds withdrawn through electronic transactions in which the card number and security number are provided, will be understood as authorized. The following transactions are not considered unauthorized transactions under this agreement, which means that you will be responsible for all transactions: • Made by a cardholder or person authorized by a cardholder, or another person who has an interest in the account or authority to perform operations on the account. • Made by a person who you have authorized to use your card, even if that person has exceeded the authority that you granted. • A transaction that a commercial establishment has processed by mistake, or a transaction in which you are not satisfied with the products or services received. In these cases, you must first contact the business establishment to resolve the situation. • Inadequate internal control in your organization. If the Depositor believes that the Card has been lost, stolen or that the Card or secret number has been or may be used by an unauthorized person, must immediately inform the Cooperative, within working hours, by telephone call to 000.000.0000, to proceed with the cancellation of the Card. Outside business hours, the Depositor may cancel the Card through the Internet Banking service or through the Telecoop service at 787.851.1377 or 1378. In this case, the Depositor must contact the Cooperative the next business day to confirm the cancellation of the Card. If the Depositor notifies the Cooperative within a term of two (2) working days from when becomes aware of theft, loss or unauthorized use of the Card or secret number, the maximum liability will be $50.00.

Responsibility and Promise of Payment. The Holder will be responsible for all ATM withdrawal transactions and purchases made with the Card. The provisions of Regulation E, which regulates electronic fund transfers in individual accounts and the liability of financial institutions and consumers for unauthorized use, do not apply to Commercial Accounts. Any debit to the Account that corresponds to funds withdrawn through the use of the Card and the secret number, in the case of the Regular ATH, will be understood as authorized. In the case of the Debit Mastercard, any debit to the Account that corresponds to funds withdrawn through electronic transactions in which the card number and security number are provided, will be understood as authorized. The following transactions are not considered unauthorized transactions under this agreement, which means that you will be responsible for all transactions: • Made by a cardholder or person authorized by a cardholder, or another person who has an interest in the account or authority to perform operations on the account. • Made by a person who you have authorized to use your card, even if that person has exceeded the authority that you granted. • A transaction that a commercial establishment has processed by mistake, or a transaction in which you are not satisfied with the products or services received. In these cases, you must first contact the business establishment to resolve the situation. • Inadequate internal control in your organization. If the Depositor believes that the Card has been lost, stolen or that the Card or secret number has been or may be used by an unauthorized person, must immediately inform the Cooperative, within working hours, by telephone call to 000.000.0000, to proceed with the cancellation of the Card. Outside business hours, the Depositor may cancel the Card through the Internet Banking service or through the Telecoop service at 787.851.1377 or 1378. In this case, the Depositor must contact the Cooperative the next business day to confirm the cancellation of the Card. If the Depositor notifies the Cooperative within a term of two (2) working days from when becomes aware of theft, loss or unauthorized use of the Card or secret number, the maximum liability will be $50.00. If the Depositor does not notify the Cooperative, the liability could be up to $500.00. However, in the event that the Depositor does not notify the Cooperative as indicated above or within sixty (60) days following the date of sending the account statement where the transaction appears, may be responsible for the total amount if the unauthorized use could have been avoided if the Cooperative had been notified within said period of time. To request a new Card, the Depositor must visit one of our branches.