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INVESTBANK INTERNET BANKING
TERMS & CONDITIONS

NOTICE

Please read the following Terms and Conditions carefully as access to and use of InvestBank Internet Banking Facility is subject to these Terms and Conditions. By accessing this website or any page thereof and/or by clicking the "I accept" tab, a contractual relationship arises and the Customer unconditionally and irrevocably agrees to be bound by these Terms & Conditions. If the Customer does not agree with these Terms and Conditions, please do not access this Site or any pages hereof.



1. Definitions



1.1 "Terms and Conditions/ Agreement" means these terms and conditions as amended/ modified by Invest Bank from time to time and such amendments will be posted on this website.

1.2 "I/We/Us/Customer(s) "means the customer of Invest Bank accessing and or using Invest Bank Internet Banking Facilities/Services.

1.3. "Invest Bank" means Invest Bank PSC having its registered head office at Al-Burj Avenue, Sharjah or its branches elsewhere in U.A.E.

1.4. "Invest Bank Internet Banking Facilities/Services" means Invest Bank Internet banking services available and provided on this Site and the "Services" means the banking services available through Invest Bank from time to time which enable the Customer to obtain information and /or to carry out certain banking transactions/services pertaining to the Account(s) through computer, telephone, personal digital assistant and /or electronic device linked to Invest Bank Internet Banking.

1.5. "Site" means this InvestBank website at www.investbank.ae as amended and modified from time to time by InvestBank.

1.6. "PIN" refers to the 4-digit number selected by the customer as per the procedures laid out in this site.

1.7. "Password" refers to the 6 to 16 alphanumeric characters selected by the customer as per the procedures laid out in this site.

1.8. "Account (s)" means the type of accounts e.g. saving, current and/or call account(s), fixed deposits, loans, credit cards and any other account or accounts maintained with Invest Bank or which may be opened in the future by the Customer.

1.9. "Statement of Account" means a period statement/written confirmation of Invest Bank in relation to an Account containing details of transactions conducted during the preceding six months period or any period as requested by the Customer.



2. Customer´s Acceptance



2.1. In consideration of Invest Bank making available the Services through Invest Bank Internet Banking Facilities/Services I acknowledge, accept and understand the following:

2.2. By accessing and/or using Invest Bank Internet Banking Facilities/Services, I have accepted and agreed to be bound by the Terms and Conditions stated herein.

2.3. I irrevocably and unconditionally accept as binding any service availed and/or transaction made or given through Invest Bank Internet Banking Facilities/Services at my own risk and responsibility and Invest Bank´s records of any transaction processed through Invest Bank Internet Banking Facilities/Services shall constitute binding and conclusive evidence of such transaction for all purposes.

2.4. I further acknowledge that any Services accessed or utilized through Invest Bank Internet Banking Facilities/Services shall be subject to Invest Bank´s terms and conditions as applicable from time to time including but not limited to any fees, expenses or charges relevant thereto which Invest Bank may directly debit from my Account (s).



3. Customer´s Responsibility for Security



3.1. I will be responsible to keep confidential my Password/PIN generated by me by following the procedure outlined on this Site and the same will not be disclosed to any other person and I will safeguard it from being divulged and/or being used by any other person (s).

3.2. I will immediately inform Invest Bank by calling on 00-971-6-5693030, if I discover or suspect that the Password/PIN or any part thereof is known to someone.

3.3. I will not allow any other person to operate Invest Bank Internet Banking Facilities/Services on my behalf and I will not leave my computer unattended during the time when I am on line. Neither will I access the Invest Bank Internet Banking Facilities/Services from a computer connected to a local area network (LAN) without ensuring that no one else is able to observe or copy my access or obtain access to Invest Bank Internet Banking Services.

3.4. I will be responsible to comply with any other measures and requirements, which Invest Bank may advise from time to time. Any violation of the above undertakings shall be at my own risk and responsibility.



4. Accesses and Use of Invest Bank Internet Banking Facilities/Services



4.1. I will only use the InvestBank Internet Banking Facilities/Services on a computer or other internet access device which I own or rent. I will not access and use InvestBank Internet Banking Facilities/Services on a computer or any other internet access device which belongs to any other person or which is owned and provided to me by my employer without such persons as the case may be or my employer´s previous written permission. Invest Bank Internet Banking Facilities/ Services will not be responsible for any loss damage or harm caused to any person as a result of my not complying with this condition.

4.2. Invest Bank will not be responsible if I am unable to gain access and /or use InvestBank Internet Banking Facilities/Services due to reasons beyond its control, including without limitation, any computer and telecommunication, electrical, technical or network failure/malfunction.

4.3. Invest Bank will on a best effort basis make available InvestBank Internet Banking Facilities/Services for use; however I agree that the routine maintenance requirements, excess demand on the system and other reasons beyond control of Invest Bank may cause disruptions in availability of this facility.

4.4. I agree that in relation to Invest Bank Internet Banking Facilities/Services, by giving a notice to me Invest Bank will be entitled to:

4.4.1. Change the mode of operation,

4.4.2. Add or remove or otherwise change the Services/facilities provided under this Site.

4.4.3. Close down temporarily or permanently InvestBank Internet Banking Facilities/Services.

4.5. I will be responsible, at my own cost and expense, to ensure that my computer or any other device through which I access InvestBank Internet Banking Facilities/Services is compatible with the service system used by Invest Bank. Invest Bank will not be responsible for any loss, damage or harm arising due to non-compatibility between Invest Bank systems and the computer or other device from where I access InvestBank Internet Banking Facilities/Services.

4.6. I will be responsible to keep the computer or other devices to be used to access and use InvestBank Internet Banking Facilities/Services safe and free from any computer virus and any similar programs/software and ensure that they are adequately protected against acquiring computer virus.

4.7. I am aware and agree that internet communications are not secured unless the data is being sent in an encrypted form. I also agree that Invest Bank will not be responsible for any unauthorized access and use by a third party and/or corruption of data being sent through the InvestBank Internet Banking Facilities/Services. Further, I will acquaint myself with the process/method of using the facility available on the Site and Invest Bank shall not be responsible for any errors made by my self and /or other co-account holders.

4.8. InvestBank Internet Banking Facilities/Services is intended to be used by the Customer in U.A.E and in case I access and use InvestBank Internet Banking Facilities/Services from a foreign country or outside U.A.E, I will be responsible to comply with laws and regulations of the same country/territory including without limitation obtaining any license required for use, import/export of the software/program used for InvestBank Internet Banking Facilities/Services to that country.

4.9. I will be responsible for all claims, actions, damages or losses incurred by my internet service provider in relation to my accessing and using InvestBank Internet Banking Facilities/Services.



5. Customer´s Instructions for Services



5.1. All my instructions shall be given to Invest Bank through the use of InvestBank Internet Banking Facilities/Services and by using my Password/PIN and the same instructions will be deemed to be given by me and Invest Bank shall be entitled to assume that the referred instructions are genuinely given by me and I will indemnify Invest Bank for acting on such instructions. Invest Bank shall be entitled to act on my instructions without any further written or other confirmation from me, even if those instructions have not been actually given or authorized by me. I understand that Invest Bank is only providing a facility (without obligation) of carrying out my transactions in relation to my Account(s).

5.2. I will be fully responsible for any instruction given to Invest Bank in relation to the services available via the InvestBank Internet Banking Facilities/Services and Invest Bank will not be liable in any manner for any unauthorized fraudulent or erroneous instructions.

5.3. I agree that Invest Bank may, in its sole discretion, refuse to carry out any instructions given in relation to the InvestBank Internet Banking Facilities/Services if it has reason(s) (in which event the decision of Invest Bank will be final and binding on me) to believe that the instructions are not genuine or otherwise improper, unclear or raise a doubt or in case any instructions appear to be illegal/suspicious in any respect. I will check the Statements for all of my Accounts for any unauthorized transaction. In case of any discrepancy in details of any transactions carried out in respect of the Account, I will immediately inform Invest Bank in writing, provided that Invest Bank will not be responsible in any manner for such discrepancies if it has reason to believe that such discrepancies resulted due to any reason not attributable to Invest Bank. If I fail to notify InvestBank within fifteen (15) days from the date of the Statement of Account of a discrepancy the transaction(s) will be considered correct and accepted by me.

5.4. I understand and agree that Invest Bank in its discretion by notice to me may withdraw or charge for the Services on time basis or otherwise. Invest Bank will not acknowledge receipt of any instructions given by me nor shall it be responsible to verify any instructions. Invest Bank will endeavour to give effect to instructions on a best effort basis.

5.5. I understand that no written advice or confirmation will be made and issued by Invest Bank for any transactions conducted on the InvestBank Internet Banking Facilities/Services although such transaction will be recorded in the Statement of Account as issued by Invest Bank periodically to me on my request.

5.6. I agree that Invest Bank will not be liable in any manner for, including but not limited to the following:

5.6.1. Any failure to act upon any instructions or to provide the Services for any reason that is beyond Invest Bank´s control;

5.6.2. Acting in good faith on any instructions received by Invest Bank;

5.6.3. Any error default delay or inability to act on all or any of the instructions given through InvestBank Internet Banking Facilities/Services;

5.6.4. Loss of any instructions given by me through InvestBank Internet Banking Facilities/Services;

5.6.5. Unauthorized access by any other person to any instruction given by me through InvestBank Internet Banking Facilities/Services;

5.6.6. For any loss or damage that may arise or be incurred directly or indirectly by reason of Invest Bank carrying out my instructions or failure of InvestBank Internet Banking Facilities/Services;

5.6.7. For any change alteration additions or deletions to these Terms and Conditions the services the systems of operation of InvestBank Internet Banking Facilities/Services or the daily cut-off times; and

5.6.8. For any partial, incomplete, late or failed transfer or bill payment to any payee nominated under the InvestBank Internet Banking Facilities/Services due to reasons beyond Invest Bank´s control.

5.7. Any information given by me will be correct and Invest Bank will be entitled without any obligation, to review or monitor such information for security, administration or any other purpose. Such information will be the property of Invest Bank.

5.8. Any instruction submitted through Invest Bank will not be affected and remains valid if operations of InvestBank Internet Banking Facilities/Services are suspended or come to an end due to any reason.



6. Execution of Instructions/Transactions



6.1. On instructions given through InvestBank Internet Banking Facilities/Services, Invest Bank will be entitled to debit any amount along with the applicable charges/fees as applicable from time to time to the transactions from my Account(s) as instructed by me. The instructions given on InvestBank Internet Banking Facilities/Services cannot be reversed. Invest Bank will not be responsible for, including but not limited to, the following:

6.1.1. To reverse an instruction given through InvestBank Internet Banking Facilities/Services; and

6.1.2. To accept any instructions which are conditional or which require Invest Bank to make payment to a third party earlier (or later) than the time Invest Bank requires according to normal banking practice.

6.2. Invest Bank in its sole discretion shall be entitled to refuse to carry out an instruction submitted through InvestBank Internet Banking Facilities/Services or may require me to provide a written confirmation of such instructions.

6.3. Invest Bank shall act on instructions in accordance with cut-off times as notified through Invest Bank Internet Banking Facilities/Services or in absence of such notice as per the normal banking practice.

6.4. In the absence of special instructions, Invest Bank may convert all transfers to my Account(s) into the currency of the Account(s) at Invest Bank´s selling rate of the currency.

6.5. All transfers requested by me will be converted by the paying bank into local currency at its buying rate unless the payee has made special arrangement with the paying bank.

6.6. Withdrawals and/or transfer of funds will not be permitted against unlearned funds.

6.7. Invest Bank shall not be liable for any act or omission of any correspondent or paying bank or for any error or delay in transaction. I agree to indemnify and hold Invest Bank harmless against all losses, damages and expenses incurred by Invest Bank in relation to any demand drafts or other instruments issued by Invest Bank or any telegraph transfers made by Invest Bank on my instructions.

6.8. If the cheques or demand drafts are lost, stolen or destroyed I will indemnify Invest Bank and agree to hold it free and harmless from all liability with respect to the lost, stolen or destroyed cheques or drafts.

6.9. If the transfer authority is submitted through InvestBank Internet Banking Facilities/Services, Invest Bank may act upon such authority/instructions and may presume that the same are genuine and accurately represent the wishes of the Customer, even if the instructions were actually compiled, sent in error or by fraud or negligence, altered or amended by someone other than the Customer with or without the actual knowledge or instruction of the Customer. Invest Bank has no duty to verify the facts and genuineness of the instructions.

6.10. I agree to hold harmless and indemnify Invest Bank against any loss, costs, damages, expenses, liabilities or proceedings, which Invest Bank may incur or suffer as a result of Invest Bank acting upon or delaying to act upon or refraining from acting upon the said instructions.

6.11. On my request, Invest Bank may provide to the other co-account holder(s) the Invest Bank Internet Banking Facilities/Services if I have a joint Account(s). In that case, the joint account holders shall be jointly and severally responsible to comply with these Terms and Conditions and shall bear all liabilities and obligations arising due to access and use of the Site whether by any one of us or by all co-account holders collectively.

We also agree that any instructions given by any one of the signatories/co-account holders will be binding on all of the joint account holders and Invest Bank will not be responsible for any claim and dispute between us.



7. Charges



7.1. Invest Bank will be entitled to:

7.1.1. Charge fees and services for access and use of Invest Bank Internet Facilities/Services;

7.1.2. Charge applicable fees and service charges for carrying out transactions on Invest Bank Internet Banking Facilities/Services. Such charges are notified in the schedule of charges issued by Invest Bank from time to time; and

7.1.3. Debit the said fees from my Account(s)



8. Liability for Loss or Damage



8.1. Subject to these Terms and Conditions and without prejudice to the rights of Invest Bank hereunder, Invest Bank will take reasonably practicable steps to ensure that its systems in connection with InvestBank Internet Facilities/Services are adequately secure and to manage and control the risks in operating the systems, taking into account all laws, regulations, rules, circulars, codes of conduct and good practices prevailing in the banking industry as applicable from time to time.

8.2. Invest Bank will not be liable for any loss or damage of whatsoever nature, whether direct or indirect or consequential to me including my successors, executors and administrators as a result of making InvestBank Internet Banking Facilities/Services available to me and such loss or damage may include without limitation the following:

8.2.1. Acting on an instruction, which has been validly authenticated as submitted by me but which in fact was given fraudulently by a third person/party;

8.2.2. InvestBank Internet Facilities/Services being totally or partly unavailable for any reason;

8.2.3. Execution of my instruction being delayed or not being acted upon by Invest Bank;

8.2.4. My reliance on the information provided on InvestBank Internet Facilities/Services; and .

8.2.5. Any access by a third party to information about my Account(s).

8.3. I will indemnify Invest Bank, its employees, agents, representatives and nominees on a full indemnity basis from and against all actions, claims, proceedings, demands, losses, damages, harms (including direct or consequential) costs, expenses, charges, taxes, penalties and legal costs and any other liabilities of whatsoever nature which Invest Bank may incur or suffer by reason of my accessing and/or using InvestBank Internet Facilities/Services.



9. Use of Information and Materials



9.1 I understand and agree that the information and materials contained in these Pages/Site and the Terms and Conditions and description that appear, are subject to change by Invest Bank. Unauthorized use of the Site and/or other InvestBank Sites and systems including but not limited to unauthorized entry into Invest Bank systems, misuse of passwords or misuse of any information posted on the Site is strictly prohibited.

9.2. I agree that by making available InvestBank Internet Facilities/Services to me, Invest Bank is granting me a non- exclusive, non-transferable, temporary license to use this Site and related software to use InvestBank Internet Facilities/Services and this permission is restricted to authorized and legitimate access and use of InvestBank Internet Facilities/Services. All materials and information and trade mark (s) name(s) given in this Site belong to Invest Bank. In this regard I agree as follows:

9.2.1. Not to use this information/material except in connection with accessing and using InvestBank Internet Facilities/Services.

9.2.2. Not to make/take copies, sell, assign, commercially rent, sub-license or otherwise transfer the same to any third persons; and

9.2.3. Not to attempt or decompose, reverse or tamper with the system/software related to InvestBank Internet Facilities/Services.



10. No Warranty



10.1. The information and materials contained in this Site, including text, graphics, links, or other items are provided on "as is", "as it is" or "as available" basis. Invest Bank does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions in this information and materials. No warranty of any kind, implied, expressed or statutory including but not limited to the warranty of non- infringement, web infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information.

 


11. Limitation of liability



11.1. In no event will Invest Bank be liable for any damages, including without limitation direct or indirect, special, or consequential damages, losses or expenses arising in connection with this Site or any linked site, the use of this or any linked site, the inability to use by any party or in connection with any failure of performance, errors, omissions, interruptions, defects, delay in operation or transaction, computer virus or line of system failure even if Invest Bank or the representative thereof are advised of the possibility of such damages, losses or expenses.



12. Availability



12.1. This Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local laws of regulations.



13. Additional Terms



These Terms and Conditions are in addition to the terms and conditions applicable to the accounts and services and other terms and conditions which govern the services and banking facilities provided by Invest Bank. In the event of a conflict between these Terms and Conditions and other terms and conditions, these Terms and Conditions shall prevail over other terms and conditions [as dispute relates to internet banking facility] as provided through InvestBank Internet Facilities/Services.



14. Miscellaneous



14.1. If any of the provisions of the Terms and Conditions stated herein is unenforceable, the other terms and conditions remain valid and will not affect the enforceability thereof.

14.2. Any waiver or relaxations given by Invest Bank will not be construed a waiver permanently and such waiver will not affect adversely the rights of Invest Bank under this/Agreement at any other time.

14.3. Invest Bank will have the right to change these Terms and Conditions at any time by giving a notice in such a manner as solely determined by Invest Bank.



15. Submissions



15.1 All information submitted to Invest Bank via this Site shall be deemed and remain the property of Invest Bank and Invest Bank shall be free to use, for any purpose, any idea, concepts, know-how or techniques contained in information a visitor to this site provides Invest Bank through this Site. Invest Bank shall not be subject to any obligations of confidentiality regarding submitted information except as agreed by the Invest Bank entity having the direct customer relationship or as otherwise specifically agreed or required by law. Nothing contained herein shall be construed as limiting or reducing Invest Bank´s responsibilities and obligations to customers.



16. Governing Law



16.1. These Terms and Conditions, access and use of InvestBank Internet Facilities/Services is subject to the laws of the U.A.E. Both parties to this Agreement agree to submit to the jurisdiction of courts in U.A.E. However, Invest Bank will have the right to pursue its remedies in and outside U.A.E and in the courts of any other jurisdiction which it considers appropriate.