Common use of Standing Orders Clause in Contracts

Standing Orders. 8.1. In case of a standing order, the Client instructs the Bank to deduct funds from one or several its accounts at the specified dates and transfer them for the purpose of the services under clause 2 of this Agreement to the Bank indicated by the Client in a relevant application. 8.2. The Bank will provide the Client with the following standing order service: 1 1Standing order service can be activated only in respect of the transfers, which according to the Bank Regulation do not require the substantiating documents. 8.2.1. Utility bills, mobile phone balance top-up; 8.2.2. Intra-Bank transfers; 8.2.2.1. National currency transfer to the Client’s personal and/or other person’s/organization’s accounts; 8.2.2.2. foreign currency transfer to the Client’s personal and/or other person’s/organization’s accounts; 8.2.2.3. Transfer of amount to saving account. 8.2.3. Inter-Bank transfers; 8.2.3.1. National currency transfer to the Client’s personal and/or other person’s/organization’s accounts. 8.3. The Client has the right to select a specific or changeable date for each standing order. The same holds true for the sum of an order (e.g. the amount the Client owes to a provider company at the date of a transfer). 8.4. In order to be rendered the service(s) under clause 8.2. of this Agreement, the Client completes an application in the Bank containing the information relevant to the standing order and the way and conditions of the transfer. Each of the Client’s standing order application shall be an integral part of this Agreement. 8.5. If the Client uses services under clause 8.2.1 of this Agreement, immediately upon incurring of a debt or at dates specified by the Client, the Bank shall write off without acceptance/the Client’s additional consent the sums from the Client’s accounts for the purpose of repayment to the provider companies specified by the Client and included in the Bank’s automatic transfer system. 1Automatic transfer service can be turned on only in respect of transfers which according to inner instructions of the bank do not require documents confirming reason of transfer 8.6. Automatic transfers under clause 8.2.1 shall be made in the Georgian national currency solely. 8.7. The automatic transfers shall be prioritized according to the commencement dates of each service. If “the day of the month” of several transfers and/or periodicity of “debts” (in case of utility bills and mobile phone payments) coincide, the Bank shall set the priorities without prior calculation. 8.8. For a specific order, the Client shall determine whether the Bank should use the balances in other current and/or card accounts (additional accounts). The Client agrees that the Bank may use “available balance” of the permitted overdrafts in its accounts in which case the interest envisaged by a relevant agreement shall be charged to the amount of the utilized overdraft. 8.9. If the Client agrees to the Bank transaction under8.8. and in the event of an insufficient balance in its national currency account as of the date of an automatic transfer, the Bank shall be entitled to debit without acceptance an amount from the balance in another currency, convert it according to the commercial exchange rate determined for the date of conversion and utilize it for the purpose of the standing order. The Bank shall do the same if the balance in the foreign currency account is sufficient but the one in the national currency account is insufficient. 8.10. The Bank shall make an automatic transfer only if the amount in any currency account is sufficient The Bank shall not make a partial transfer. 8.11. The Service of automatic transfer (one, several or all of those) will be cancelled on the grounds of the Client’s relevant application or if, after the latest successful transfer, there is no amount in the account for 6 (six) consecutive months. 8.12. The Client is obliged to: 8.12.1. maintain sufficient balance in the accounts from which the Bank should is to automatic transfers; 8.12.2. pay the automatic transfers service fee (the Client will receive the relevant information immediately at request). 8.13. The Bank has the right: 8.13.1. in case of an insufficient balance, not to make automatic transfer from the Client’s accounts opened in any currency; 8.13.2. Not to make automatic transfer in line with the applicable legislation of Georgia, as well as in case of indebtedness towards the Bank. 8.14. If the date of the automatic transfer specified by the Client coincides with the date of fulfillment of its liabilities towards the Bank, the Bank preserves the right to suspend or not to make the automatic transfer until the Client meets its liabilities in full. 8.15. Only once shall the Bank send the information on the status of the automatic transfer order (successful or unsuccessful attempts, activation or cancellation of the automatic transfer service, etc) to the phone number specified by the Client. The Bank is not responsible for the failed receipt by the Client of the aforesaid message and the relevant damage. 8.16. The Bank is not responsible for a damage arising from a failed and/or erroneous automatic transfer if caused by the insufficient balance in the Client’s accounts and/or inaccurate information supplied by the Client and/or by a fault of the service provider company. 8.17. The automatic transfer service shall be subject to the terms and conditions of this Agreement, with the specifics of this clause taken into account.

Standing Orders. 8.1. In case of a standing order, the Client instructs the Bank to deduct funds from one or several its accounts at the specified dates and transfer them for the purpose of the services under clause 2 of this Agreement to the Bank indicated by the Client in a relevant application. 8.2. The Bank will provide the Client with the following standing order service: 1 1Standing Standing order service can be activated only in respect of the transfers, which according to the Bank Regulation do not require the substantiating documents. 8.2.1. Utility bills, mobile phone balance top-up; 8.2.2. Intra-Bank transfers; 8.2.2.1. National currency transfer to the Client’s personal and/or other person’s/organization’s accounts; 8.2.2.2. foreign currency transfer to the Client’s personal and/or other person’s/organization’s accounts; 8.2.2.3. Transfer of amount to saving account. 8.2.3. Inter-Bank transfers; 8.2.3.1. National currency transfer to the Client’s personal and/or other person’s/organization’s accounts. 8.3. The Client has the right to select a specific or changeable date for each standing order. The same holds true for the sum of an order (e.g. the amount the Client owes to a provider company at the date of a transfer). 8.4. In order to be rendered the service(s) under clause 8.2. of this Agreement, the Client completes an application in the Bank containing the information relevant to the standing order and the way and conditions of the transfer. Each of the Client’s standing order application shall be an integral part of this Agreement. 8.5. If the Client uses services under clause 8.2.1 of this Agreement, immediately upon incurring of a debt or at dates specified by the Client, the Bank shall write off without acceptance/the Client’s additional consent the sums from the Client’s accounts for the purpose of repayment to the provider companies specified by the Client and included in the Bank’s automatic transfer system. 1Automatic Automatic transfer service can be turned on only in respect of transfers which according to inner instructions of the bank do not require documents confirming reason of transfer 8.6. Automatic transfers under clause 8.2.1 shall be made in the Georgian national currency solely. 8.7. The automatic transfers shall be prioritized according to the commencement dates of each service. If “the day of the month” of several transfers and/or periodicity of “debts” (in case of utility bills and mobile phone payments) coincide, the Bank shall set the priorities without prior calculation. 8.8. For a specific order, the Client shall determine whether the Bank should use the balances in other current and/or card accounts (additional accounts). The Client agrees that the Bank may use “available balance” of the permitted overdrafts in its accounts in which case the interest envisaged by a relevant agreement shall be charged to the amount of the utilized overdraft. 8.9. If the Client agrees to the Bank transaction under8.8. and in the event of an insufficient balance in its national currency account as of the date of an automatic transfer, the Bank shall be entitled to debit without acceptance an amount from the balance in another currency, convert it according to the commercial exchange rate determined for the date of conversion and utilize it for the purpose of the standing order. The Bank shall do the same if the balance in the foreign currency account is sufficient but the one in the national currency account is insufficient. 8.10. The Bank shall make an automatic transfer only if the amount in any currency account is sufficient The Bank shall not make a partial transfer. 8.11. The Service of automatic transfer (one, several or all of those) will be cancelled on the grounds of the Client’s relevant application or if, after the latest successful transfer, there is no amount in the account for 6 (six) consecutive months. 8.12. The Client is obliged to: 8.12.1. maintain sufficient balance in the accounts from which the Bank should is to automatic transfers; 8.12.2. pay the automatic transfers service fee (the Client will receive the relevant information immediately at request). 8.13. The Bank has the right: 8.13.1. in case of an insufficient balance, not to make automatic transfer from the Client’s accounts opened in any currency; 8.13.2. Not to make automatic transfer in line with the applicable legislation of Georgia, as well as in case of indebtedness towards the Bank. 8.14. If the date of the automatic transfer specified by the Client coincides with the date of fulfillment of its liabilities towards the Bank, the Bank preserves the right to suspend or not to make the automatic transfer until the Client meets its liabilities in full. 8.15. Only once shall the Bank send the information on the status of the automatic transfer order (successful or unsuccessful attempts, activation or cancellation of the automatic transfer service, etc) to the phone number specified by the Client. The Bank is not responsible for the failed receipt by the Client of the aforesaid message and the relevant damage. 8.16. The Bank is not responsible for a damage arising from a failed and/or erroneous automatic transfer if caused by the insufficient balance in the Client’s accounts and/or inaccurate information supplied by the Client and/or by a fault of the service provider company. 8.17. The automatic transfer service shall be subject to the terms and conditions of this Agreement, with the specifics of this clause taken into account.