Common use of Term Deposits Clause in Contracts

Term Deposits. 23.2.1 The establishment of a term deposit is made by debiting the amount corresponding to the order in the demand deposit account designated for that purpose, subject to the General Terms and Conditions and the specific conditions that are, in each case, agreed upon with the Client, notably in terms of amount, currency, interest rate, start date, due date or period (number of days). 23.2.2 The renewal of a term deposit beyond its due date depends on agreement between the Bank and the Client. 23.2.3 The deposit shall bear interest in favour of the Client at the rate applicable to him under the specific conditions agreed. Interest will be paid at the end of the term of the deposit by crediting the demand deposit account indicated by the Client. Interest shall be calculated in accordance with the Schedule of Charges, the legislation in force, or failing that, according to market practice. 23.2.4 The return of capital plus net interest can only be made at the end of the initial term or any of its renewals. 23.2.5 The mobilization of all or part of the deposit before maturity depends on the Client´s request and the Bank's consent and is subject to what it is established in the Standardized Information Sheet delivered to the Client. 23.2.6 Communication on how the deposit was made contained in the Confirmation Notice serves as proof that the deposit was made. 23.2.7 Term deposits are regulated by these General Terms and Conditions, by those established in the product Standardized Information Sheet delivered to the Client and, when not expressly foreseen in these documents, it are applicable the specific conditions agreed upon with the Client, which prevail in case of any discrepancy.

Term Deposits. 23.2.1 The establishment of a term deposit is made by debiting the amount corresponding to the order in the demand deposit account designated for that purpose, subject to the General Terms and Conditions and the specific conditions that are, in each case, agreed upon with the Client, notably in terms of amount, currency, interest rate, start date, due date or period (number of days). 23.2.2 The renewal of a term deposit beyond its due date depends on agreement between the Bank and the Client. 23.2.3 The deposit shall bear interest in favour of the Client at the rate applicable to him under the specific conditions agreed. Interest will be paid at the end of the term of the deposit by crediting the demand deposit account indicated by the Client. Interest shall be calculated in accordance with the Schedule of Charges, the legislation in force, or failing that, according to market practice. 23.2.4 The return of capital plus net interest can only be made at the end of the initial term or any of its renewals. 23.2.5 The mobilization of all or part of the deposit before maturity depends on the Client´s request and the Bank's consent and is subject to what it is established in the Standardized Information Sheet delivered to the Client. 23.2.6 Communication on how the deposit was made contained in the Confirmation Notice serves as proof that the deposit was made. 23.2.7 Term deposits are regulated by these General Terms and Conditions, by those established in the product Standardized Information Sheet delivered to the Client and, when not expressly foreseen in these documents, it are applicable the specific conditions agreed upon with the Client, which prevail in case of any discrepancy. 24. Account Validity and Closing 24.1. The account opening agreement will be valid indefinitely. 24.2. Either of the parties has the right to, at any time, terminate the Account Opening agreement, by notice to the other party made with one month in advance, in case of the Client, and two months in advance in case of the Bank, in relation to the date on which termination shall take effect. 24.3. The Bank can terminate all business relations in force with the Client by means of a shorter prior notice than that stated in point 24.2, or with immediate effect, if the Client does not promptly comply with any of its obligations to the Bank.