account opening requirements community banking · account opening requirements community banking...

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ACCOUNT OpeNiNg reqUiremeNTs Community Banking

The following is a list of information/items required for our review and acceptance prior to the opening of a personal account:

(1) An original financial reference addressed to the Bank indicating a satisfactory relationship of over 3 years, and quoting approximate average balances maintained over the past 6 months.

(2) For local residents, a letter from your current employer addressed to Butterfield Bank (Cayman) Limited confirming your salary and employment. For overseas residents, an original character reference addressed to the Bank from a Law or an Accounting firm indicating a satisfactory relationship over 3 years.

(3) Details regarding the purpose of the account.

(4) Details regarding the nature and dollar volume of anticipated transactions through the account including the source of funding/wealth of initial and subsequent deposits.

(5) A notarised legible copy of the passport photo page with clear details of full name, date of birth, nationality, signature, photo and expiration date AND driver’s licence (with photo showing).

(6) Completed and signed Bank mandates.

(7) Confirmation of physical address; example, copy of current utility bill with clear details of permanent address.

Certification of identification is not required of persons who have been personally interviewed at the bank and from whom a photocopy of passport or driver’s licence has been taken by Bank personnel.

There will be situations which are not covered by the above and our Manager – Retail Banking will be pleased to discuss our requirements in exceptional cases.

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CLIENT INFORMATION SHEET - PERSONAL ACCOUNT Community BankingCLIENT INFORMATION SHEET - PERSONAL ACCOUNT Community Banking

Account Name: Customer Number:

Mailing Address:

ACCOUNT HOLDER INFORMATION (see page 3 for information on additional account holders):

Name:

Date of Birth: Nationality:

Driver’s License Number: Passport Number:

Current Permanent Physical Address:

Country of Tax Residency:

If EU tax resident, Tax Identification Number.:

Telephone: Home: Work: Cell:

Fax Number: E-mail:

Occupation:

Employer:

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CLIENT INFORMATION SHEET - PERSONAL ACCOUNT Community Banking

Other banking details:

References:

Type of accounts required:

Purpose of account:

Initial deposit details:

Expected levels of activity and source thereof:

Details of source of wealth (i.e. please state how wealth originally obtained):

ACCOUNT HOLDER INFORMATION (continued)

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�772�4

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CLIENT INFORMATION SHEET - PERSONAL ACCOUNT Community Banking

Please read & sign the declaration below:

I/we confirm that the personal details I/we have supplied are to the best of my/our knowledge true and correct as of this date.

I/we confirm that I/we comply with all tax and exchange control reporting requirements imposed on me/us by any applicable jurisdiction in respect of this proposed account and any other accounts that I/we hold with you.

I/we further confirm I/we have read and understood, and received a copy of the General Regulations and Conditions, attached hereto.

Bank Use ONLY

Open by: Reviewed by:

Authorised by: Date:

Customer Signature Print Name Date (dd/mm/yyyy)

ATTESTATION



Name to appear on card (not to exceed 21 characters including spaces).

Card access is available to multiple accounts such as chequing, savings or credit cards and for CI and US accounts only.

For your security, please choose one of the daily fixed limits:

1. Cable & Wireless: 2. Digicel:

3. Cayman Water Co.: 4. Water Authority:

5 CUC: 6. Butterfield Credit Card:

To be accessed by your Card (at Butterfield ATMs only):

Link all CI or US accounts available at ATM or Advise specific accounts below:

Designated Primary Default Account No.* (CI$ or US$ Chequing or Savings) 1.

Daily Limit 1 Daily Limit 2 Daily Limit 3ATM CI$1,000 CI$3,000 CI$5,000Point of sale CI$5,000 CI$10,000 CI$30,000

Governors Square Midtown Plaza

Midtown Plaza

Please enter your utility bill or Butterfield credit card account numbers below:

Governors Square

177211

Butterfield Visa® Debit Card Banking Agreement

Conditions of Use

The Nominated Primary Account on your Butterfield Visa Debit Card may be either a Cayman

Islands Dollars or US Dollars chequing or savings account and is designated by the Cardholder at

the time of application.

The following rules and conditions apply to all Butterfield Visa Debit Cardholders.

For purposes of this agreement, “Butterfield” means Butterfield Bank (Cayman) Limited.

1. Use of the Card or signature of this card application constitutes the acceptance of this Agreement.

2. Withdrawals may be made from the Cardholder’s savings or chequing account at any Butterfield

Automated Teller Machine (ATM) or from any ATM or network specifically authorised for use as

displayed on the Card.

3. Withdrawals will be subject to the Daily Transaction limits set by Butterfield or selected by the

Cardholder.

4. The Card may also be used to make payments to Bank-authorised utilities and suppliers (e.g. CUC,

Digicel, Cayman Water Co., Water Authority, Cable & Wireless). The Cardholder is responsible for

notifying Butterfield of any changes in account relationships with the suppliers. Changes in account

relationships with the supplier must be received by Butterfield five business days prior to the changes

being effected in our records. Butterfield does not accept liability for errors caused by incorrect

information received from the Cardholder or the suppliers.

5. When the Card is used to withdraw cash, the Cardholder may elect to have it deducted from either the

chequing or savings account. The Nominated Primary Account or a selected account will be accessed if

that account type is selected at time of withdrawal. Where an account selection option is made

available to the Cardholder, the Cardholder will be bound by such selection. All Card transactions will

be converted to the currency of the Nominated Primary Account at the time of the settlement of the

transaction.

6. The Cardholder will receive a receipt for each transaction conducted. The Cardholder should keep the

receipts issued by the ATM or point of sale machine for all transactions. Deposits can only be made in

Butterfield ATM machines configured for this purpose. Deposits are subject to collection.

7. The Cardholder must report lost, theft, unauthorised use of the Card or loss of the personal identification

number (PIN) as soon as possible. When issued, the PIN will be known only to the Cardholder. No other

person, not even Butterfield employees, will know it. The Cardholder must not disclose the PIN to any

person, not even to the police, insurers or Butterfield employees in the event of the Card being lost,

mislaid or stolen. The Cardholder should not record the PIN in any way that may result in it becoming

known to another person. The Cardholder should take every possible care to prevent the Card being lost,

mislaid or stolen and should not pass the Card to any other person. The Cardholder should not disclose

the Card number to any person except in the case of a Card transaction permitted under this agreement

or in the case of actually reporting the loss or theft of the Card. The Card should not be left in

unattended vehicles or premises.

8. Butterifeld shall incur no liability for failure of any ATM to function due to electrical or mechanical failure,

improper use by the Cardholder or any other cause.

9. Butterfield reserves the right to withdraw any or all rights and privileges pertaining to the Card, and/or to

revoke the Card without assigning any reason for doing so, and to charge the Cardholder’s account

prior to issuing or reissuing the Card or replacing it if lost or stolen. The Card remains the property of

Butterfield at all times.

10. Each joint account Cardholder acknowledges joint and several liability for the use of the Card issued so

far as such use involves the joint account.

11. The issuing of the Card does not entitle the Cardholder to:

(a) Overdraw any account if no overdraft arrangements have previously been made; or

(b) Overdraw any account in excess of any overdraft limit previously agreed by Butterfield.

12. Butterfield has the right at all times to vary these Conditions without notice to the Cardholder.

13. This Agreement shall be governed by and construed in accordance with the laws of the Cayman Islands.

14. You may cancel your card account at any time by:

(a) Notifying us in writing that you are cancelling the card; and

(b) Cutting the card in half and returning the pieces to us.

15. The currency of your card account is CI dollars. Purchases and Advances in other currencies will be

converted into CI dollars before debiting your account. This conversion will be done by Visa and may

occur on a date when the currency exchange rate is less favourable to you than on the transaction date.

16. Immediately on receipt of the Card the Cardholder shall sign the Card and any replacement of the Card.

17. The Cardholder agrees that any transaction initiated at an ATM other than Butterfield’s will be subject to

the fees and charges as published from time to time and that these fees and charges will be debited

electronically from the Cardholder’s account(s) once the transaction has been completed.

18. The Card may be used for purchases from participating merchants and the amount applicable to such

purchases will be debited electronically from the Nominated Primary Account.

19. The Cardholder cannot stop a payment once a transaction has been electronically authorised by

Butterfield to the relevant merchant.

20. The Cardholder must sign a sale or cash voucher when produced every time the Card is used for direct

payment to merchants but failure to sign does not relieve the Cardholder from any responsibility for

payment.

21. The Cardholder acknowledges that if any problems arise in relation to merchandise or services contracted

for using the Card, then those complaints will be directed to the merchant to handle and Butterfield

accepts no liability for any failure by the merchant to service the Cardholder.

22. Payment will be confirmed at a point of sale or point of withdrawal of cash subject to:

(a) funds being available in the Cardholder’s account;

(b) the Cardholder not being in breach of this Agreement;

(c) there being no report to or suspicion by Butterfield of the Card having been lost,

mislaid, stolen or used without authorisation; and

(d) there being no Card authorisation limits or parameters being exceeded.

In the event there are insufficient funds in the account or the account is legally restricted,

Butterfield will not be liable for its non-authorisation or non-payment of the transaction. In the

event of death of the Cardholder following the electronic authorisation of a transaction but

prior to settlement of the transaction, the payment will be made by Butterfield to the merchant

in the ordinary course. Butterfield accepts no responsibility for purchases of goods and services

and the Cardholder agrees to pay Butterfield for all purchases even though a dispute may exist

between the Cardholder and the merchant. Butterfield shall not be responsible for the failure of

any merchant or bank to honour the Card.

23. Purchases at merchants and withdrawals at non-Butterfield ATMs will be debited from the

Cardholder’s Nominated Primary Account.

24. Butterfield is irrevocably authorised to:

(a) Debit the Cardholder’s Nominated Primary Account with all amounts withdrawn

through any machine or any amounts paid to any merchant by means of any Card

issued to the Cardholder in priority to all other drawings or debits; and

(b) Act on instructions related to the transfer of funds given by means of any Card issued

to the Cardholder; and

(c) Debit the Cardholder’s account with the amount of all Card transactions and any

applicable fees or charges arising by means of the use of any Card issued to the

Cardholder under the terms of this Agreement in priority to all other drawings or

debits.

25. If the Cardholder suspects that unauthorised transactions or account errors are occurring or have

occurred, then he should report this concern to Butterfield’s Card Services Department at

telephone no. (345) 949 7055. In addition, Cardholders with Cards prefixed by the numbers

4416 should contact toll-free 1 800 847 2911 (within Cayman, the U.S. or Canada) or collect

(410) 581-9994 (all other countries).

26. Butterfield may renew the Card at its sole discretion and any fees may be changed without prior

notice in accordance with a fee schedule which shall be published by Butterfield from time to

time. If the Cardholder’s account becomes overdrawn without prior agreement and is referred

for debt collection, then the collection costs and any legal expenses shall be charged to the

Cardholder and shall be payable by the Cardholder on demand. The Cardholder authorises

Butterfield to charge any of the Cardholder’s accounts with Butterfield or any of its subsidiaries

for any amounts by which any accounts accessible by the Card become overdrawn, and this

authorisation shall apply notwithstanding that all or part of the moneys held to your credit may

have been deposited for a fixed period which may not have expired, or may be denominated in

a different currency. Transactions are subject to Butterfield’s normal service and finance charges,

which are subject to change from time to time.

27. Butterfield accepts no responsibility whatsoever for, or in connection with, the provision of any

insurance coverage or other benefits, services or products which may be provided by third

parties to Cardholders or their families.

28. The Cardholder understands that this is not a Credit Card and that the dollar amount of

purchases made with this Card will be deducted from the Cardholder’s Butterfield Nominated

Primary Account. The Cardholder agrees to be bound by the terms and conditions covered in

this agreement as amended by Butterfield from time to time.

*Conditions may apply. Please inquire.

P.O. Box 705 | Grand Cayman KY1-1107, Cayman Islandswww.butterfieldgroup.com

Butterfield Bank (Cayman) Limited.

Information Classification: Public

Form

# C

S22-

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Personal details

Customer name: E-mail address:

Internet enable accounts

Internet enable all accounts under the following customer number:

Indicate how you wish to receive your Butterfield Online user ID and password:

Collect at (local customers): Butterfield Place Governors Square Midtown Plaza

or send by (overseas customers): Registered mail (no cost) Courier e.g. Fedex (charges apply)

Mail or courier address:

I / We request Butterfield Bank (Cayman) Limited to activate the use of Butterfield Online Internet Banking Service (“The Service”).

I/We have read, agree to and will comply with the terms and conditions of “The service” as detailed in the Butterfield Online Personal Banking Agreement.*

Signature Date

Butterfield Online Personal Banking Application

Accs. verified I. Enabled To branch Input by Chk'd by

FOR BANK USE ONLY

*See the Butterfield Online Personal Banking Agreement on the reverse side.

177212

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1. DEFINITIONS:

1.1 In this Agreement the following terms shall have the corresponding definitions:

“Agreement” means this Personal Banking Agreement as supplemented by the Schedule of Fees and the Online Tutorial.

“Application” means the Butterfield Online Personal Banking Application submitted by the Client to the Bank requesting the Service in respect of the Service Accounts.

“Authorised User ID and Password” means any User ID and password assigned by the User Administrator to each authorised User of the Service (which password may be amended by the Client from time to time) to allow access to the Service.

“Butterfield”, “Bank”, “we”, “us” and “our” means Butterfield Bank (Cayman) Limited, Butterfield Money Market Fund Ltd. – USD, Butterfield Money Market Fund Ltd. – CAD, Butterfield Money Market Fund Ltd. – GBP, Butterfield Money Market Fund Ltd. – Euro, Butterfield Liquid Reserve Fund Ltd., Butterfield US$ Bond Fund Ltd., Butterfield Capital Appreciation Bond Fund Ltd., Butterfield International Income Fund Ltd., Butterfield Equity Fund Ltd., Butterfield Asia Fund Ltd., Butterfield Select Fund, Butterfield International Balanced Fund USD, Butterfield International Balanced Fund STG and/or Butterfield Global Blue Chip Fund.

“Butterfield Online”, “the Service”, “electronic banking service” means the service which provides access to the Bank’s computer system and enables clients access to, including giving instructions on, their own accounts with the Bank.

“Client”, “Account Holder”, “you”, “user(s)” means the customer(s) applying to use Butterfield Online.

“Client User ID and Password” means the User ID and password provided by the Bank to the Client pursuant to the Application (which password may be amended by the User Administrator from time to time) to allow access to the Service.

“Service Account” means any account that may be an account of the Client with Butterfield, as specified in the Schedule to the Application (or any other document), which the Client wishes to access using the Service.

“Schedule of Fees” means the schedule published by the Bank from time to time specifying the Bank’s fees for services including Butterfield Online.

“User” means any account holder of the Service Account authorised to operate any Service Account.

“User Administrator” means the individual(s) delegated by the Client in the Application who is responsible for assigning Authorised User IDs and Passwords, as well as assigning authorisation levels to Users.

“Online Tutorial” means the Online Tutorial published by the Bank for use of Butterfield Online (as amended by the Bank from time to time).

2. AGREEMENT FOR PROVISION OF SERVICE

2.1 This Agreement provides the only and full understanding of the terms and conditions for use of the Service. No waiver, alteration or modification shall be binding unless in writing and approved by the Bank. Neither the course of conduct of the Client nor trade usage shall act to modify or alter any provision of this Agreement.

2.2 The Client may not assign this Agreement without prior written consent of the Bank. If any part of this Agreement is held invalid, the remaining parts will continue to be valid and enforceable.

2.3 This Agreement shall be for the exclusive benefit of the Bank and the Client.

2.4 Operating parameters, hours of service, and deadlines are described in the Online Tutorial. The Bank may amend the Online Tutorial at any time. The Client’s continued use of the Service subsequent to the issue of any amendments shall constitute acceptance of the amendments.

2.5 Where the Bank is a party to a dispute, the electronic records retained by the Bank shall (save in the case of fraud or manifest error) serve as the sole and accurate record of the events and shall be admissible in a court of law as such, with equal evidentiary value as a duly authorised paper document.

2.6 The Bank reserves the right to cancel this Agreement with immediate effect in the event that legal, regulatory, or other governmental decisions or developments would or might, in its sole opinion, preclude the Bank from providing the Service.

2.7 The Bank may, at its absolute discretion and with immediate effect, suspend services should the Bank, in its sole opinion, consider that activity has occurred which constitutes fraudulent use of Butterfield Online, attempts to perpetrate fraud through Butterfield Online, violates regular account operation rules and regulation, Bank policy, or Cayman Islands Law; and the Bank shall not be obliged, in any such case, to specify the precise nature of its concerns, but may simply make reference to this clause.

3. AUTHORISATION & SECURITY

3.1 The Client authorises the Bank to act upon instructions received through the Service for the transfer of funds or other Bank services in accordance with the Bank’s operating procedures, rules and guidelines (as may be amended from time to time). Any action taken by the Bank on such instructions will have the same legal effect and will bind the Client as fully and effectively as if they had been given in writing and signed by the Client.

3.2 The Bank will provide the Client with a single Client User ID and Password to obtain access to the Service. Such Client User ID and Password may be shared between account holders or one account holder may be delegated the role of User Administrator. The User Administrator may provide separate Authorised User ID and Password to any other joint-account holder for access to the Service.

3.3 The Client understands and agrees that they alone are solely responsible for the selection, use, confidentiality, and protection of passwords and identifiers. The Bank may, at its sole discretion, deny access to the system for security reasons.

3.4 No confirmation is required by the Bank from the Client on properly authorised transactions or instructions sent from the Client to the Bank using the Service.

3.5 The Client confirms that authorised Users of this Service shall be restricted to the joint-account holders of the account only. Further all account holders confirm and agree that any special signing or authorisation requirement applicable for paper based transactions and instructions will not be applicable when using the Service.

3.6 All Bank products and services accessed through the Service will continue to be operated according to their individual ordinary agreements, rules and guidelines, (including fee schedules), as amended by the Bank from time to time. However, section 3.5 overrides any existing mandates, authorities and arrangements you have with the Bank on your existing accounts.

3.7 The Client will report to the Bank in a timely manner in writing, any suspected breach in the Client’s security through access to the Service. Such notice will be effective when received by the Bank. The Bank is not liable for any loss that occurs should there be a breach in the Client’s security prior to receipt of notice of the breach by the Bank. The Client is solely responsible for advising the Bank to (a)

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Block users from access to Butterfield Online, and (b) Add and/or remove Service Accounts. Such advice shall be in writing to the Bank and signed by all parties to the account or through the Secure Messaging option via Butterfield Online.

4. JOINT ACCOUNT HOLDER(S)

4.1 Joint account holders will be provided with one Client User ID and Password for access to the Service. One account holder may act as User Administrator as indicated in clause 3.2 above.

4.2 All account holders will sign the Butterfield Online Application Form to confirm joint agreement to use the Service as well as joint agreement to these terms and conditions herein.

5. CONFIDENTIALITY

5.1 The Bank will take all commercially reasonable precautions to ensure the confidentiality of the Client’s files, records and data. The User will hold all information, documentation, and specifications relating to the Service as being confidential and proprietary to the Bank. The User agrees that it will at no time during the term of this agreement or after its termination disclose or otherwise transmit, directly or indirectly, any such information to any third party without the prior written consent of the Bank. These obligations of confidentiality do not apply to necessary disclosure to auditors in the course of audit, to any governmental agency under any statutory obligations, where required by law, and/or where such information is already in the public domain.

6. LIMITATIONS & LIABILITY

6.1 The Bank is not liable for acts of God, machine or system breakdown or malfunction, interruption or malfunction of telecommunications, electrical power or other third party services (including but not limited to Internet Service Providers or Internet Browser software), labour difficulties, or any other cause beyond its reasonable control. The Bank will take reasonable care in performance of its obligations under this Agreement. In no event will the Bank be liable for indirect, special or consequential damages, even if it is advised of the possibility of such damages.

6.2 Under no circumstances will the Bank authorise any of its employees to install, maintain, or otherwise modify any of the Client’s equipment, hardware or software. The Bank will under no circumstances be liable for the performance of the Client’s hardware, software, or telecommunications services.

6.3 The Bank will not be liable for the insolvency, neglect, misconduct, mistake, default or actions or inaction of any third party, including but not limited to charges imposed or other action taken by a payee or merchant resulting from a late or missed payment, such as applicable finance charges and late fees.

7. REVISIONS & IMPROVEMENTS TO THE SERVICE

7.1 The Bank reserves the right to make changes in the rules of operation, accessibility, security procedures and provisions, type and location of Service resources, administration, features and functionality.

8. EQUIPMENT & SOFTWARE

8.1 The Client alone is solely responsible for the expense, installation, upgrade and maintenance of all hardware, software, and provision of telecommunications used to access the Service.

8.2 The User acknowledges that it does not own any copyright or other intellectual property rights in the Service and is subject to the conditions of confidentiality specified in clause 5 above.

8.3 If the User accesses the Service from a country outside of the Cayman Islands, the User/Company shall be responsible for complying with the laws and regulations of that country.

9. NOTICES

9.1 Any notice or communication under or in connection with this Agreement (other than the options available electronically through Butterfield Online) shall be in writing and shall be delivered personally or shall be sent by fax or by registered post as follows:

To the Bank at: Butterfield Place 12 Albert Panton Street, P.O. Box 705

Grand Cayman KY1-1107, Cayman Islands. Fax: 345-815-7975 Attn: Electronic Banking Department

To the Client at: The address specified in the Application. Or at such other address as the parties notify to the others.

9.2 Proof of faxing, delivery or posting shall be deemed to be proof of receipt:

(a) in the case of a notice or communication faxed, on the day it is faxed if faxed before 5:00pm on a day when banks are ordinarily open for business in the Cayman Islands or otherwise on the next such day;

(b) in the case of a notice or communication personally delivered, on the date of

delivery; and

(c) in the case of a notice or communication sent by registered post, on the third day after posting.

10. TERMINATION OF SERVICE

10.1 The Service may be suspended or terminated at the discretion of the Bank.

10.2 The Client may terminate use of the Service by sending written instructions to the Bank.

11. GOVERNING LAW & JURISDICTION

11.1 The construction, validity, and performance of this Agreement will be governed by Cayman Islands Law. The Client submits to the non-exclusive jurisdiction of the Cayman Islands Courts.

(continued)

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�77209

Date (dd/mm/yyyy):

Account Name(s): Customer Number:

Name (1): Signature (1):




Other:

INFORMATION Please print

SIGNATURE SPECIMENS

Comments for Bank Use ONLY

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ButterfieldBank(Cayman)Limited(hereinafterreferredtoastheBank),at itsdiscretion,will renderquarterly,semi-annualorannualstatements.ThecustomermayelectnottoreceivethestatementsbymailandtoaccessthemonlineviaInternetinstead.TheBankmayelectnottoreturnanyclearedchequesunlessspecificallyrequestedtodosobythecustomer.InadditiontotheagreedorusualinterestchargesandcommissionstheBankwillalsochargeitsactualdisbursements.Confirmationofthecorrectnessofthebalanceimpliesapprovalbythecustomer,ofallentriesshownbythestatementduringtheperiodcovered. InterestandcommissionsaccruetotheBankinfull.Disbursements,taxesandcharges,etc.(domesticandforeign)arechargeabletothecustomer.TheBankreservestherighttodemandpaymentfromthecustomeroftaxeswhichmaybechargedtotheBanksubsequently. ObjectionstotheaccountandsecuritiesstatementsmustbereceivedinwritingbytheBankwithinfourweeksfromthedayofthemailingofthestatementsoraccessingthestatementsonlineandastootheradvicesorstatementsthetimelimitsshallbetendaysfromthedateofmailingoraccessingthestatementsonline,unlessnotificationinthecircumstancescouldusuallybeexpectedorisusualwithinashorterperiod.ObjectionsconcerningexecutionorlackthereofofanyandallinstructionsshallbelodgedwiththeBankbytelephone,immediatelyuponreceiptofthefirstrespectiveadviceorupondeterminationofnon-executionandshallbeconfirmedbythecustomersubsequentlyinwriting;asregardssecuritiesandforeignexchangetransactions,objectionsshallbelodgedpriortotheopeningofthenextstockexchangesessionorforeignexchangetradingsession.Uponexpirationofthetimelimits,accountandsecuritiesstatementsadvices,executions,non-executions,etc.shallbedeemedtohavebeenapproved. AllnotificationsbytheBankshallbedeemedtohavebeenproperlymadeinallcasesiftheyhavebeensenttothelastaddressexpresslygivenbythecustomerforthispurposeorpostedtothebank’ssecureonlinecustomerportal.LackofpostalinstructionsimpliesnotificationcareoftheBank.CorrespondencebetweentheBankandthecustomershallbedeemedtohavebeendulyreceivedasandwhenmailedtothelastaddressgiventotheBankbythecustomerorwhenpostedtotheBank’ssecureonlinecustomerportal. TheBankisentitled,butisnotobliged,torelyuponandactinaccordancewithanynotice,demandorothercommunicationwhichmayfromtimetotimebegivenbyanyverbal,telephone,facsimileorthroughthesecureonlinecustomerportalifbelievedbytheBanktobegenuineandtobepresentedordeliveredbyoronbehalfofthecustomer,withoutincurringliabilityshoulditbefalseortherebeanyerrororambiguitytherein. ThecustomerunderstandsandagreesthattheBankshallbepermitted,atitssolediscretion,torecordcommunicationswiththecustomerforitsownpurposes,including,butnotlimitedto,qualityassurance,riskmanagementandverificationofinstructionsandthatsuchpermissionshallnotcontraveneordetractfromanydutyofconfidentialitythatmaybeowedbytheBanktothecustomer.Allrisksconnectedwiththeuseofcarriers,aswellastelephone,electronicorsatellite,especiallyloss,delaymisunderstandingormutilationshallbebornebythecustomer. Wherevariousordersbycustomerexceedthebalanceorcreditavailabletohim,theBankshallbeentitled,atitsdiscretionandwithoutregardforthedateoftheordersortheirreceipt,torefrainfromcarryingoutpartoralloftheorders. TheBankmayterminatethecustomerrelationshipatanytimebygivingnotlessthanone(1)month’snoticeinwritingtothecustomer.TheBankmayhoweverterminatethisbusinessrelationshipwith immediateeffect intheeventthat (a) theBankreasonablybelievesthatthecustomerisinbreachofitscontractualobligationstotheBankundertheseRegulationsandanyotherapplicableagreementor(b)anyregulatoryorcriminalinvestigationoractionistakenagainstthecustomer;or(c)wheretheBankreasonablybelievesthattheinterestsoftheBankmaybeprejudicedortheBankmaybeexposedtoliabilityonaccountoftherelationship;or(d)wherethecustomerexhibitsthreateningorabusivebehaviourtowardstheBank’sstaff. TheBankshallatanytimehavetherighttooffsetcustomercreditanddebitbalances,regardlessofthecurrencyinwhichtheymaybecarriedandwithoutregardtomaturity;thecustomershallbeentitledtothecommonlawrightofset-off. Wheremorethanonepersonhassignaturerights,theBankwillconsidereachsuchpersonashavingtherighttosignsingly,unlessthecustomergivesdifferentinstructionsinwriting.Wherespecialinstructionsconcerningsignaturerightshavebeenissuedbyacustomer,heisrequiredtonotifytheBankexpresslywhensuchsignaturerightsshallbeterminated. TheBankverifiesthesignaturebycomparingitwiththespecimenonfile.TheBankshallbeentitledbutnotrequiredtogobeyondsuchverification.TheBankshallnotbeliableforconsequencesofforgeryunlesssuchforgeryshouldthroughobservanceofduediligencehavebeenreadilydetected. Customer’ssecuritieswillbeheldinsafekeepingandadministeredwiththesamecareastheBank’ssecurities,subjecttosafe-custodyfees.Securitiesacquiredordeliveredabroad,shallattheBank’sdiscretionbeheldofforeigncorrespondentsconsideredingoodstandingexceptwhenthecustomerhasgivenspecificinstructionstothecontrary.AllsecuritiesdepositedinthenameoftheBankbutheldforaccountofthe

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customerofaforeigndepository,shallbesoheldattheriskofthecustomer.Theriskoffiscalandother(domesticandforeign)governmentalmeasures,especiallytransferrestrictions,isbornebythecustomer. AfterthecloseofthecalendaryeartheBankwillfurnishtotheownersofsecuritydepositsalistofthesecuritiesentrustedtoit.TheBankwillwatchforredemptions,payments,subscriptionrightsandpresentationofcouponspertainingtosecuritiesdepositedwithit;however,insofarasthisconcernsforeignsecuritiesnotquotedintheCaymanIslandsbutheldintheCaymanIslandsatthecustomer’sinstructions,theBankmustdeclineallliability.Claimsfortaxrefundwillonlybemadeuponspecificinstructionsfromthecustomer. CreditbalancesinforeigncurrencyarecarriedinthenameoftheBankwithwellestablishedforeigncorrespondents,butattheriskofthecustomerincludingtheriskofpossiblefiscalandothergovernmentalmeasures(domesticandforeign)especiallytransferrestrictions. Forcommercial letterofcredittransactionsandcollectionsofcommercial instruments,thereshallbeapplicablethegeneralrulesandusagesoftheInternationalChamberofCommerce,subjecttodifferentlocalusages;astotransactionsinvolvingcommercialdocumentsthegeneralrulesandusagesoftheInternationalChamberofCommerceshallbeappliedmutatismutandis. TheBankreservestherightatitsdiscretiontopostponepaymentofchequesorwithdrawalsagainstunclearedeffectswhichmayhavebeencreditedtothecustomeraccount. Collectionsofdraftsandsimilarnegotiableinstrumentspayableatsecondarybankingplacesaswellasofdraftsandsimilarnegotiableinstruments with short maturities will be handled without liability on the part of the Bank for timely presentation of protest. ObtainingacceptancesforcustomerswillbehandledbytheBankwithoutliabilityevenwhencommissionsandexpensesarebeingchargedtherefore. Forthehonouringofchequesanddraftsdrawnonthebank,theapplicablespecialprovisionsshallgovern. CoveragefordraftsorpromissorynotespayableattheBankshallbeavailabletotheBankatthelatestintheafternoonofthedaypriortotheduedate. TheBankshallhavetherighttochargetothecustomer,whetherornotfundsareavailable,anycheques,notes,ordraftsdrawnonotherbanksnegotiatedbythecustomeroftheBankandreturnedduetodishonour,stoppayment,forgeryoranyotherreason.Forstockexchangeorderstheapplicablelocalrulesshallgovern.Forendofaccountortermtransactionsofcustomers,theBankshallberesponsibleonlyifinstructionshavebeenreceivedpriortotheopeningoftheexchangeonthesettingdayandwherethecontractistobetakenup,onlyifsufficientcoverageisavailable. LegalrelationsandplaceofjurisdictionbetweenBankandcustomershallbegovernedbythelawsoftheCaymanIslands.Whereinatransactionforaccountofacustomer,thelawofaforeigncountryapplies;suchlawshallalsogoverntherelationshipbetweenthebankandcustomer. PerformanceshallbeatGeorgeTown,intheIslandofGrandCayman,oneofthesaidCaymanIslands. Supplementalconditions,forAccountscarriedonanoverdraftbasis: ExtensionofcreditmayberevokedatanytimebytheBank,andclaimsincludingcurrentaccountclaimsaredueatanytime,subjecttospecificarrangementstothecontrary. TheBankisentitledatitsdiscretioneithertodebitthecustomerwithdraftsendorsedandmadepayabletotheBankinthecourseofbusinessandsubsequentlynotmet,ortopresentsuchdraftplusinterest,commissionsanddisbursementstoanyacceptorregardlessofanyexistingaccountarrangements. TheBankhasalienonallsecurities,domesticandforeigncurrencies,goldbars,claimsandotherassetsincludingallrelatedrevenues,subscription rightsetc.which theBankmayholdnowor in the future foraccountof the customerormaybeholdingoradministeringelsewhere.SecuritiesotherthanbearersharesareherebyassignedtotheBankbywayofpledge.ThecustomerundertakestocomplywithallformalitieswhichtheBankmaydeemnecessarytoestablishandtoenforcethelienorpledgeimmediatelyupondemand.Insofaraslifeinsurancepoliciesarepledged,thecustomerundertakestomakeregularandtimelypaymentsofpremiums.HeconsentstotheBankmakingthesepaymentsonhisbehalfforhisaccountandtonotificationtotheinsurancecompanyoftheassignment. Thelienservestosecureallclaimswhichthebankmayhavenowormayhaveinthefuture,onwhateverlegalgroundsthesemaybebasedandappliesbothtotheprincipaloftheseclaimsaswellastotheapplicableinterest,commissions,expenses,etc. TheBankisentitledtodemandcoverageorincreasedcoverage,wheneverintheopinionoftheBankthemarginortheratioofmarginsisnolongerpresentinthedesirableproportion.Thisalsoappliesto“future”transactions.Itshallbeconsideredalsoasreductioninvalueif,asaresultofgovernmentalblockingofsecuritiesorothergovernmentalactionstherearematerialdifficultiesintherealisationortransferoftheproceeds.Incasewheresuchrequestisnotmetwithintheprescribedtimelimit,theentireclaimshallbecomedue.Astothegivingofnotice,realisationandcollectionofpledgedsecuritiesreceivables,etc.theBankshallbeauthorisedbutnotobligedtodoso.TheBankshallbeentitledincaseofpledgingofreceivablestonotifythethird-partydebtor.

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Wherethecustomerdoesnotcomplywiththerequirementsofprovidingcoverageoradditionalcoverageorrepaymentofthedebtonmaturityorinthefulfilmentofrequiredformalitieswithintheprescribedlimit,theBankshallhavetherightwithoutfurtherformalitiesatitsdiscretionandwithoutliability,tosellprivatelythepledgedassets,totheextentrequiredinordertoliquidateitsclaims,eitherimmediatelyorlaterevenbeforetheduedates,andwherenecessarytocovershortpositionsthroughrepurchases. Unlessotherwisestated,theBankreservestherighttochange,amendoraddtotheseRegulationsoranyfurthertermsandconditionsapplicabletothecustomerrelationshipwithoutgivingpriornotice.TheBankwillgivenoticetothecustomereitherdirectlyinwritingbypostorbypostingnotificationintheBank’sbranchesandontheBank’swebsite.Continueduseoftheaccounts,productsandserviceswillbeconsideredyouracceptanceofsuchamendmentstotheRegulationsortermsandconditions. TheBankreservestherighttotransferorretainanyinformationinrelationtothecustomerandtherelationship,account,productorservicewhetherwithinoroutsidetheCaymanIslandsinsuchmannerasitshall,initsabsolutediscretion,considerappropriate,andreservestherighttoengagesuchagents,whetherwithinoroutsidetheCaymanIslandsas,initsabsolutediscretion,itshallconsiderappropriatetofulfillitsdutiesmoreefficientlyorforthepurposeofcomplyingwithitsobligationspursuanttoapplicablelawsandregulations. Accordingly,where theBankdeemsnecessary forbusinesspurposes, theBankmayneed to transferordisclosesuch information tocounterparties,affiliatesandthirdpartiesorwherecompelledbylaworregulatoryprocedure,toregulatorsandenforcementagencies.ThecustomerunderstandsandagreesthattheBankmaydiscloseany informationheldby it inrelationtothecustomerandtherelationship,account,productorservicewhetherornotconfidentialinnature;

(1) totheBankscounterparties,affiliates,professionaladvisersorotherserviceproviderswhetherwithinoroutsidetheCaymanIslands,wheretheBankconsiderssuchdisclosurenecessaryorappropriateforbusinesspurposesortoenableittoproperlyandefficientlyfulfilitsduties;or

(2) wheresuchdisclosureisrequiredbyanyapplicablelawororderofanycourtofcompetentjurisdictionorpursuanttoanydirection,requestorrequirement(whetherornothavingtheforceoflaw)ofanycentralbank,governmentalorotherregulatoryortaxationagencyauthoritywithappropriatejurisdictionandpursuanttoduelegalprocess.

Thewords“I”,“he”,“we”,“it”,“customer”,“depositor”andothertermsoflikeimportshallmeananindividual,partnership,firm,associationorcorporation,asthecontextandtheformofthepartysignatorymayrequire.

Thecustomerunderstandsandagreeswiththetermsandconditionshereinandshallacceptthembyexecutingtherelevantaccount,productorserviceagreementtowhichthesetermsandconditionsrelate.

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