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    DBS Vietnam

     

    THE GENERAL BANKING TERMS AND CONDITIONS

    The General Banking Terms and Conditions contains terms and conditions governing your banking relationship with us and certain products and services provided by us.

    What products and services are covered under this document?

    The General Banking Terms and Conditions includes, amongst others, the terms for the following products and services that we may offer to you:

    Type of Service

    Description

    Digital Banking Services
    • Use of our digital platforms for online banking services and other digital products and services and use of selected third-party digital platforms.

    Accounts and Related Services
    • Opening and maintenance of Accounts with us.
    • Placing of fixed and/or time deposits with us.
    • Making domestic and international remittances.
    • Collection services such as the setting up of virtual accounts

    Global Financial Markets Services
    • Making spot and forward foreign exchange transactions.

    How does this document work?

    The General Banking Terms and Conditions is organised into different parts (each a 'Part') as follows

    Part

    Classification

    Description

    Part A

    Common Terms
    • This Part contains terms governing our banking relationship with you.

    Parts B-D

    Service Schedules

    These Parts comprise of the Service Schedules set out below:

    • Part B (Digital Channels) - this Part includes terms governing the use of digital channels and digital products and services.
    • Part C (Accounts and Related Services) - this Part includes terms for accounts and related products and services.
    • Part D (Basic Financial Markets Services) - this Part includes terms for basic financial markets products and services.

    Part E

    Common Terms
    • Part E (Definitions and Interpretation) – this Part contains common definitions used in this document and other documents such as Jurisdiction Schedules and other Service Schedules.

    Part A and Part E are collectively referred to as the "Common Terms". The Common Terms should be read together with the applicable Jurisdiction Schedule(s), Service Schedule(s), Form(s) and any other document which amends or supplements the foregoing.

    Terms and conditions set out in Part B to Part D relating to certain product and services which you are not using or have not used will only take effect when you apply for and/or we subsequently provide you with such services and products.

     

    Part A of the General Banking Terms and Conditions includes (but is not limited to) the following terms:

    • Terms under which we may make changes, amendments, or replacements to the terms in the This includes our right to make unilateral changes, amendments or replacements which will be binding on you.
    • Terms under which we provide Services to You should note that we have absolute discretion on whether to provide any Service to you and how we provide it to you.
    • Representations, warranties, and undertakings from
    • Terms relating to your instructions to us in connection with the Services offered or provided by
    • Terms relating to your Authorised Persons and Agents and terms relating to the communications between you, us and your Authorised Persons and Agents
    • Terms relating to our engagement and dealings with Third Party Service Providers and Third Party This includes indemnities from you and terms relating to the exclusion of our liability in connection with the engagement and dealings with Third Party Service Providers and Third Party Banks.
    • Indemnities from you to us, including (but not limited to) for your use or misuse of any Service or your failure to comply with any part of the Agreement.
    • Terms excluding us from liability to you or other persons. This includes (but is not limited to) exclusions of liability where any loss you or any other person may suffer is due to any fraud or forgery in relation to any Service or any unauthorised use of any Service.
    • Terms relating to sanctions, anti-money laundering, anti-bribery, anti-corruption, and counter-terrorism financing laws.
    • Terms under which you authorise us to disclose confidential information and terms relating to the collection, use and the holding of personal data.
    • Terms relating to our right to immediately terminate and/or suspend any Service provided by us and to terminate and/or suspend any Service with prior notice.
    • Special terms which apply to you if you are a sole proprietor, partnership, trustee / trustee-manager acting on behalf of a trust or a society, co-operative society, or unincorporated association.

    You should note that other Parts of the General Banking Terms and Conditions, Jurisdiction Schedules and Service Schedules may also contain additional indemnities and terms relating to the exclusion of our liabilities.

    Part B of the General Banking Terms and Conditions includes (but is not limited to) the following terms:

    • Terms relating to your access, and your Authorised Persons' access of the digital
    • Terms relating to the provision of digital channels on an as is and as available
    • Terms relating to any authentication mechanisms when using our digital
    • Terms relating to system, hardware, software, and security requirements when using our digital
    • Terms relating to the provision of software, APIs, market data and other content when using our digital
    Terms relating to customer self-administrators and internal controls when using our digital channels

    Part C of the General Banking Terms and Conditions includes (but is not limited to) terms for the following Services:

    • Terms relating to any Account that you open with
    • Additional terms relating to foreign currency accounts, multi-currency accounts and joint
    • Terms relating to currencies which may be subject to exchange controls or other restrictions under
    • Terms relating to various forms of payments and receipts, including cheques, drafts, pay orders, telegraphic transfers, domestic transfers, direct debit payments, standing instructions and others.
    • Terms relating to the use and processing of
    • Terms relating to the direct debit authorisation Service, the virtual account Service, and the consolidated receivables reporting Service.

    Part D of the General Banking Terms and Conditions includes (but is not limited to) the following terms:

    • Terms relating to the types of foreign exchange transactions that we may provide as basic financial markets products and services, and the capacity in which we act when we provide them.
    • Terms relating to how we will enter into foreign exchange transactions with
    • Terms relating to the requirements we may impose as conditions to entering into foreign exchange transactions with you and limits we may impose on your foreign exchange transactions.
    • Terms relating to how the rates that apply to any foreign exchange transaction, and the amounts payable under them, will be determined and calculated.
    • Terms relating to how you must make payments, or provide settlement instructions for payments, for foreign exchange transactions and our rights if you fail to do so.
    • Terms setting out the conditions to our obligations to make payments to you, and our rights with respect to settlement
    • Terms under which we may adjust, or take other action in relation to, foreign exchange transactions and your liability for any loss we incur as a result of such adjustment or action.
    • Terms relating to our rights to immediately terminate foreign exchange transactions and calculate amounts payable and exercise other rights on such early termination.
    • Additional representations, warranties, and undertakings from you including special provisions relating to currency.
    • Terms excluding us from liability to you or other persons. This includes (but is not limited to) exclusions of liability arising from any loss or delay in the transmission or wrongful interception of any order or for any failure to fulfil any request, order, or instruction.
    • Terms relating to the application of other agreements you may enter into with us, such as a DBS Master Agreement or an ISDA Master Agreement, to foreign exchange transactions.
    • Terms disclosing risk of loss and other risks in dealing in foreign exchange transactions and your acknowledgements in respect of those risks.
     

    VIETNAM JURISDICTION SCHEDULE

    The Vietnam Jurisdiction Schedule will apply where you open an Account with a DBS Group Member located in Vietnam or where a DBS Group Member located in Vietnam provides you with any Service. For avoidance of doubt, DBS Group Member located in Vietnam opening Account for and/or providing any Service to you is DBS Bank Ltd. – Ho Chi Minh City Branch.

    SERVICE SCHEDULES

    This Service Schedule sets out the terms under which we provide additional connectivity services to you. This includes (but is not limited to):

    • host to host services allows for straight through processing of large volumes of transactions, use of customised pre- processing rules, automated routing, and real time transaction alerts.
    • DBS API services: allows you to connect to our APIs to connect to our Limits, such as the limits on the number of requests or number of users may be imposed.
    • customer API services: allows us to connect to your APIs to provide you with our Services. Any APIs should not be modified without our prior written consent, and you must provide us with all details of any open-source software
    • SWIFT fileact services: you must be an authorised SWIFT participant to use the connectivity options offered by SWIFT to securely transfer files to us.
    • remote data transmission services allow you to use multi-bank connectivity solutions to access our Records on the use of the services must be maintained and provided to us upon request.

    This Service Schedule sets out the terms which allows you as a merchant to make collections in real-time, access your funds the same day and easily reconcile your accounts with real-time notifications and end of day reports. Registration with a payment rail (such as VietQR for Vietnam) and the creation of a DBS Max wallet is a pre-requisite to use this service. Refunds can only be provided in certain instances e.g. for refunds through the DBS Max App Service, refunds can only be performed if the DBS Max wallet has sufficient funds, and the payment transaction is reflected in the transaction history.