Personal banking

VALIDITY All banking services are deemed activated and, consequently, this document of TERMS AND CONDITIONS will become effective, from the date of approval by THE BANK in the activation form submitted by THE CLIENT to the BANK together with the CARDS REGISTRATION SIGNATURE, both documents duly signed.

POWER OF DISPOSITION. The list provided in writing to THE BANK with the signatories authorized to sign on behalf of THE CUSTOMER will be used exclusively for commercial relations between THE CUSTOMER and THE BANK, until it is revoked in writing without any exceptions.

Customer complaints regarding the execution or non-execution of any instruction of any kind, as well as on the account statements (s), or in relation to any communication received from THE BANK, must be sent immediately at the time when happen or within the period specified by THE BANK. Otherwise, the execution or non-execution of the instructions and the relevant account statements (s), as well as the communications will be considered approved. In the event of not having received a notification and / or communication, a claim must be presented at the time of notifying it and it will be at the discretion of THE BANK to consider it provided that it is within the period of time established by it for that type of claims.

BANK CORRESPONDENCE. Any communication sent by THE BANK will be considered transmitted once it is delivered to the last address provided by THE CLIENT. The date that appears on the copy or on the mailing list maintained by THE BANK will be taken as the dispatch date. The correspondence that must be retained by THE BANK and will be understood, in case of doubt, as delivered on the date contained therein.

CUSTOMER RESPONSIBILITY. THE CLIENT must review the account statements online and report to THE BANK any discrepancy within 30 days of the transaction in question. THE BANK is not responsible once this deadline has expired.

VERIFICATION OF SIGNATURES AND IDENTITY. THE CUSTOMER will be responsible for the adequate protection of their identity and bank access, otherwise they will be liable for damages and consequences that may result in counterfeiting, misuse, and alteration of bank instructions and movements, unless the negligence of THE BANK can be verified .

LEGAL DISABILITY. THE CLIENT is responsible for any damage that may arise in the course of the commercial relationship with THE BANK, for their legal incapacity, which is obliged to remedy immediately.

ERRORS IN TRANSMISSION. Any damage that occurs as a result of the use of postal services, telephone, fax, telex, or any other communication system or means of transport, especially in case of loss, delay, misunderstanding, mutilation or duplication, must be assumed by THE CLIENT , unless THE BANK is guilty of complete negligence. Negligence is understood as any carelessness at the time of performing any action that the functional duty requires.

LACK OF EXECUTION OR LATE EXECUTION OF AN ORDER. In case of damages due to lack of execution or late execution of an order (except for orders related to the stock exchange) THE BANK is only responsible for the loss of interest, unless it has been notified in a particular case of the risk imminent of more extensive damages.

RIGHT OF RETENTION AND COMPENSATION. THE BANK has the right of retention on all the assets that it has in its custody for the account of THE CLIENT, either in its own custody or in other locations, and the right of compensation against the funds in the accounts of THE CLIENT with respect to any claim that THE BANK may have against THE CLIENT during the course of the commercial relationship. Regardless of the expiration date or currency. However, it is only applicable at the time the claim arises. This rule will apply equally to credits that have been granted either without guarantee or against a special guarantee. In case of breach by THE CLIENT, THE BANK shall have the right to execute the property in question at its own discretion, either by force or by private sale. THE BANK reserves the right to compensate for any obligation acquired with institutional investors or sovereign nations that have guarantees granted by the same institution or nation; since these guarantees must be duly registered and actively exchanged in the market. Under these circumstances, THE BANK reserves the right to cancel this eventual contractual obligation with the aforementioned guarantees, even in case of default. All these stipulations will be contained in the contracts of private banking services offered to THE CLIENT.

CURRENT ACCOUNT. THE BANK may accredit or debit the interest, commissions, charges and taxes of custom or agreed monthly, quarterly, semi-annual or annually. THE BANK reserves the right to modify its commissions or interest rates at any time, especially if the money market conditions undergo any change. THE BANK will inform THE CUSTOMER of any modification through a circular letter, notification published in the CUSTOMER service area or in any other way that it deems appropriate. If there is no objection during the following thirty (30) days, the account statements issued by THE BANK will be considered as approved. The tacit or explicit approval of the account statements includes the approval of all their content.

FOREIGN CURRENCY ACCOUNTS. The assets of THE BANK corresponding to the balances in foreign currency will be kept in the same currency inside or outside the country of the currency in question. THE CLIENT will be liable proportionally to its quota, for all economic and / or legal consequences, on movable or immovable property of its property directly linked to THE BANK that are affected by measures taken by the authorities of the country where the funds are located.

The obligations of THE BANK from foreign currency accounts will be limited exclusively to the place where the account is held and only through the establishment of a credit in THE BANK, a correspondent bank or a bank established by THE CLIENT in the country of the currency in question.

In the case of current accounts in foreign currency, the balances will be placed in the country of the respective currency.

CREDITS AND DEBITS OF PAYMENT IN FOREIGN CURRENCY. Foreign currency amounts are credited and debited in dollars, except when THE CLIENT has given instructions indicating otherwise or has an account in the foreign currency in question. If THE CLIENT only has accounts in other foreign currencies, THE BANK may credit or debit THE CLIENT’s accounts in any of these currencies.

LETTERS OF CHANGE, CHECKS OR OTHER INSTRUMENTS. THE BANK may re-debit bills of exchange that have not been paid, checks or other instruments within the stipulated period and that have been previously discounted or credited, all this, until said balance is paid. However, THE BANK has the right to demand payment of the total amount of bills of exchange, checks or other instruments, including accessory claims, against any responsible party.

TERMINATION OF THE COMMERCIAL RELATIONSHIP. THE BANK reserves the right to terminate any commercial relationship, in particular to cancel credit facilities that have been approved or granted, with immediate effect, in that case, any claim of THE BANK will expire and must be paid immediately, except for when the contrary has been agreed in writing and stipulated in each service offered, contracted and granted.

RESERVATION OF SPECIAL REGULATIONS. In addition to being governed by these general conditions, certain business lines are subject to special regulations issued by THE BANK. In particular the safe custody and administration of guarantees and other valuables, savings books and savings accounts, deposit books and deposit accounts, checkbooks, safe deposit boxes and night depository. Furthermore, transactions in the stock exchange are subject to local regulations, uniform customs document transactions and practices for documentary credits granted by the international chamber of commerce.

CHANGES TO THE GENERAL CONDITIONS. THE BANK reserves the right to modify the general conditions at any time. THE CUSTOMER will be informed of these changes through a circular note or in any other way deemed appropriate, in the absence of objection within thirty (30) days following such changes will be considered as approved.

USE OF ELECTRONIC SUPPORT TOOLS. These general conditions will be applied to the following services of THE BANK that are required by THE CUSTOMER or by any person authorized by it and that are available such as: customer card / chip card, personal code, keys, magnetic tapes, keys private, certificates, customer card with password and online services EL BANCO, among others. If the information in this document differs from the conditions specified in the special terms and conditions for individual services of THE BANK, the latter will apply the precedence; if there are no differences, both documents will complement each other. For all other terms and conditions governing the relationship with THE BANK, such as the conditions for opening accounts or custody of accounts, the general conditions of THE BANK and the custody regulations will also have legal validity.

PROOF OF IDENTITY: If THE CLIENT or a third party agrees with any of the electronic support tools for the use of any service, the user’s identity will not be verified by THE BANK against signatures or identity documents. The identity in this case is established by an authentication process through the available electronic tools (self-identification), this means that every person who identifies correctly will have access to the corresponding account. THE CUSTOMER is responsible, even legally, for activities carried out electronically, unless he can prove otherwise with reliable evidence.

OBLIGATION TO CARRY OUT DILIGENCE DUE: THE CLIENT or any person authorized by him must take the necessary measures for the safe use of electronic support tools. The entry and verification data of the electronic tools received by THE BANK must be securely protected for the purpose of identification. The keys, nominal lists, private keys and any electronic support tool must be kept secret. Under no circumstances should they be disclosed and / or transmitted to other people. Electronic support tools must be kept separately; For example, the keys must not be registered in other electronic devices. Access to private keys must be protected with keys that meet the following requirements: they should only be stored in reliable hardware (eg, chip cards), security numbers and keys must be selected so that they are not easy to detect or deduct (for example: based on telephone numbers, birth dates, vehicle registration number, etc.). If there is a possibility or suspicion that a security number, key, private key or nominal list has been discovered by an unauthorized person, THE CUSTOMER or person authorized by it, you should immediately ensure that it is changed, deleted or blocked. . If necessary, the authorized user must request another nominal list from THE BANK, the certificate of the private key must be blocked immediately. THE BANK must be notified immediately of the loss of any electronic support tool. THE CUSTOMER is fully responsible for ensuring that the other persons authorized by him for the use of electronic support tools comply with these conditions.

ENTRY LOCK: when expressly requested, THE BANK may block access to specific services. A block may be limited to the use of electronic support tools or to a specific person. The block may be requested before the office of THE BANK that manages the account or at any point of special service. THE CUSTOMER or person authorized by it may also block if the electronic support tool allows it. Once the entrance access is blocked, it cannot be reversed until said request is made in writing to THE BANK. THE CLIENT runs any risk that may result from the use of electronic support tools before the lock has been activated through normal procedures.

TRANSMISSION ERRORS, TECHNICAL FAULTS, FAULTS AND LEGAL INSTRUCTIONS: THE BANK exempts from liability for damages caused due to transmission errors, technical failures, breakdowns and legal instructions or through the use of ATMs, terminals, screens or other ped systems of THE CLIENT, of the persons authorized by the same or third parties, or in ped systems generally accessible by the general public, unless THE BANK is guilty of complete negligence. Similarly, THE BANK is not responsible for damages caused as a result of technical failures or service interruptions (including maintenance work required by the system) or for overloads affecting its own ATMs or ped systems.

INFORMATION RECEIVED THROUGH ELECTRONIC POCKETS, TERMINALS AND OTHER PED SYSTEMS. THE BANK does not guarantee in any way the veracity or integrity of the information or reports of the information received through ATMs, terminals and other ped systems (including landlines or cell phones); in particular, information related to the accounts, and information about them (account balances (s), account statements (s), transactions, etc.), are not legally binding and should be considered as provisional tools. Similarly, EL BANCO reports (such as stock prices and exchange rates) do not constitute legally binding offers until they are explicitly stipulated.

PROPERTY: all electronic support that will be made available to THE CLIENT must be used in accordance with the stipulated conditions. The available electronic support tools will remain the property of EL BANCO.

CHARGES: THE BANK will charge certain charges for particular services according to the list of charges that should be reviewed by THE CLIENT regularly. THE CLIENT will be informed of these charges in advance and will be notified if any changes are made. THE BANK shall have the right to discount these charges from the accounts.

CHANGES OF THE CONDITIONS: THE BANK reserves the right, at all times, to change these basic conditions, the special terms and conditions of the services mentioned above in this document or any applicable user manual. Such changes will be notified in writing, on screen, by circulating from THE BANK or any other way that it deems appropriate. If said changes are not claimed in writing within thirty (30) days following its announcement, it will be understood that they have been accepted, as well as the use of electronic support after thirty (30) days of the announcement of said changes will constitute acceptance.

NOTIFICATION: Any or all of the services of THE BANK contained in this document may be canceled at any time by means of communication, either by THE CLIENT or THE BANK. The electronic support tools provided by THE BANK will be returned to the office that manages the account, without having to be requested, immediately after receiving the notification. However, and despite having received such notification of cancellation of the service, THE BANK will continue executing the actions that were requested before the return of the electronic tools.

BANK DISCRETION / DATA PROTECTION: It is noted that the laws of Dominica (on bank discretion, data protection) are only applicable in the territory of Dominica and that all data transmitted abroad ceases to enjoy the protection offered under these laws.

SEPARABILITY CLAUSE: In the event that part of these basic conditions or the special terms and conditions for specific services identified above become void or cease to have legal force, the rest of the conditions will remain in effect. The parties will interpret the conditions so that the objectives of those parties that have been annulled or ceased to have legal significance can be achieved in the best possible way. That THE BANK should notify what they are and at what time they cease to be valid

NOTICE OF CHANGE OF ADDRESS OR MANDATORY DATA. THE CLIENT agrees to inform THE BANK immediately of any change of address or email.

SPOUSE AUTHORIZATION. If by law the signature of the spouse is required for the opening of an account, THE BANK will understand that said consent has been granted once the corresponding spouse’s rubric is stamped in the documentation that so requires.

MARKETING IN EUREX OR OTHER CONTEMPORARY SECURITIES BAGS. THE CLIENT hereby declares that he is aware of the functional aspects of the financial instruments derived from the markets in which they operate, as well as their rules and regulations, and that THE CLIENT knows that under certain circumstances his instructions may not be executed. immediately, and / or may be partially executed. THE CLIENT acknowledges that THE BANK is obliged to establish a margin in these stock exchanges where it acts in its name, and that THE CLIENT is obliged to supply this margin at the time of giving the instructions (initial margin), and that it is also obliged to provide additional coverage (variation margin) to THE BANK if requested. THE CUSTOMER authorizes THE BANK to close the position of not receiving the additional guarantee requested on the first banking day following the request. THE CLIENT may authorize THE BANK to commit and give as guarantee any good that is in the custody of THE BANK to safeguard the position of THE CLIENT. THE BANK is also authorized to debit from THE CLIENT’s account any commission and / or charge that may arise, if THE BANK has not received the instructions indicating otherwise before 12 noon, two days before the due date and You are obliged and authorized to liquidate, enter or negotiate any contract that may exist on the funds from this moment forward. THE CUSTOMER knows and accepts that all the short options that may exist on the money are tendered daily until the expiration date (American) or on the expiration date (European and American), and that circumstances that may lead to the event may arise that THE CLIENT is not notified or taken into consideration in due time. All transactions will be carried out at the own risk of THE CLIENT, regardless of the relations of THE BANK in relation to the counterparties. THE CUSTOMER is aware that THE BANK must comply with the laws applicable in the country of the respective stock exchange as well as the current regulations, general rules and normal practices of these exchange houses. THE CLIENT also understands everything about THE BANK and THE CLIENT expressly confirms that he is familiar with these regulations, general rules and practices, and that he has received a copy of the information document about the future and the options, and we understand its content.

CHANGE OF CURRENCIES. The following terms will be applied to “spot”, forward and optional transactions regarding currency exchange with THE BANK.

Main agreement. The transactions concluded between THE CLIENT and THE BANK form a simple contractual relationship with this agreement.
The signing of individual transactions of this agreement does not represent an obligation at the conclusion of the transaction. Individual transactions can be agreed informally. THE BANK will issue a confirmation for each transaction.
Exercise of options. An American option can be exercised during the period on any banking day, on the day of its expiration it must be carried out at the latest at 10 a.m. New York time (forex options), statements to exercise options that are not received on the day of the due date before the set time will not be valid.
Exercise of options by THE BANK, as long as the goods have been deposited by THE CLIENT with THE BANK (ahem: either by margin or deposit of underlying goods), of which THE BANK may satisfy the requirements or may Use them for settlement purposes.
THE CUSTOMER hereby authorizes THE BANK to liquidate or acquire the corresponding underlying assets and notify of the possible execution of the option on a subsequent date.
Acts of default. In the event of non-compliance by THE CLIENT (ahem: lack of supply of margin when required), THE BANK may terminate this agreement with all its transactions. This right of THE BANK will also be applicable if THE CLIENT does not comply with any requirement of THE BANK within the established periods.

CHANGE FINANCIAL SITUATION. If THE BANK knows that THE CLIENT’s financial situation has deteriorated in such a way that in the evaluation carried out by THE BANK, it can be considered that the obligations resulting from this agreement may be at risk, that it is in a position bankruptcy, moratorium or a reconstructive process, or if the assets of THE CLIENT were seized, it will be understood that this agreement will be dissolved immediately prior to the possible event. In the event of premature termination of this agreement or of individual transactions, obligations not yet due in relation to transactions will be canceled or replaced by an obligation to provide a settlement valuation in chf or in any other currency accepted by THE BANK. The settlement valuations of the relevant transactions will be calculated by THE BANK and will pay off each other and any remaining will be the single debt with the bank.

PERFORMANCE OF A MARGIN. THE CUSTOMER acknowledges the fact that THE BANK reserves the right to require a deposit margin for its possible demands that may arise from transactions concluded with it, which will be deposited in THE BANK. The amount of this margin must be established by THE BANK either generally or on a case-by-case basis, taking into account the duration, rates / prices of each transaction and taking into account the applicable laws and regulations. THE BANK may change its requirements regarding the general margin at any time. During the validity of a transaction, THE BANK will also have the right to increase the original amount of the margin or subsequently specify the amount of a deposit for any transaction concluded without margin. THE BANK also has the right to request additional coverage (called margin) if, changes in the market after the conclusion of a transaction, cause loss to THE CLIENT at the time of settlement of the transaction, or if the value of the margin deposit has decreased. In these cases, THE CLIENT agrees to supply THE BANK with this supplement or a new guarantee. In the event that THE CLIENT does not comply with this margin request on the next banking day – or in case of deterioration of market conditions, within a shorter period of time as established by THE BANK will be entitled, but not required, to carry out any transactions that are necessary to ensure that any of them will be covered or settled on their due date, and THE CLIENT will be responsible for any loss incurred by THE BANK. If any debt arises, THE BANK shall have the right, but is not obliged to settle this loss of the margin deposit or to dispose of the deposit as it deems necessary. THE BANK will also have the right to proceed according to what is previously established in this document: Use of goods as collateral: the goods that are used as collateral before THE BANK are committed to THE BANK. The details of this commitment are set out in a separate commitment document. Commitments by third parties / guarantor, in case the margin coverage should be provided by a third party, the same conditions will apply.

DERIVATIVE AND FRONT TRANSACTIONS. These transactions carried out through THE BANK or THE BANK in the account of THE CUSTOMER will be at your own risk, so that THE BANK is exempted from any obligation and responsibility for monitoring. THE CUSTOMER acknowledges that he has received and taken into consideration a booklet called “Special Risks In Securities Transactions”. On its own initiative, THE CLIENT accepts that all transactions will be concluded on its own initiative on the basis of its evaluation of market conditions, and not based on recommendations received from THE BANK. Acting capacity. THE CLIENT hereby confirms that he has the necessary capacity to act in these transactions or that he has been empowered to do so.

TERMS AND CONDITIONS. This agreement is subject to the general conditions of THE BANK, and in particular to what is provided by such conditions in relation to the total payment or the lien.

APPLICABLE LAWS AND JURISDICTION. This agreement and / or declaration will be governed and interpreted exclusively with the laws of Dominica. The place of the obligations of the parties, place of collection of debts, the latter only for clients residing outside the Dominican Republic, as well as the exclusive jurisdiction for any dispute outside or within this agreement and / or the declaration shall be the jurisdiction of EL BANK. It reserves the right to take legal action against the undersigned before the authorities of his domicile or before any competent authority, in any case the applicable laws will be exclusively the laws of Dominica.

VOTING RIGHT. THE CUSTOMER authorizes THE BANK to exercise the right to vote regarding the shares it holds during general meetings of shareholders and to delegate this authority when deemed necessary by this authorization. THE BANK may also but is not obliged to represent the undersigned in said general shareholders meetings and to exercise the right to vote in relation to the shares, which at the time of said meetings the CLIENT owns and are in guarantee for his account. THE CLIENT acknowledges that THE BANK will only use this authorization to vote during these general meetings when a company so requests before THE BANK. In such cases, THE CLIENT will be informed of said situation before the general meeting in relation to the proposals to be submitted, and will be asked for instructions for voting. In case the instructions are not received in due time, THE BANK will vote in favor of the proposals of the board of directors. This general authorization will remain in effect even after death or inability to act.

ABSOLUTE POWER FOR THE MANAGEMENT OF PROPERTY FOR EXTERNAL PROPERTY MANAGERS: 1. Complete management of goods. THE CLIENT authorizes the above mentioned lawyer – without substitution power – to handle my / our name, without restrictions, all the assets deposited at any time in my / our account with the bank identified with the number mentioned above. In particular, said lawyer is authorized to give instructions for the purchase and sale of securities and currencies, to convert and exchange securities, to establish arbitration operations and subscriptions, to exercise or sell subscription rights, to buy shares in investment funds not belonging to EL BANCO other unidentified securities, to carry out investments based on trusts – in the name of EL BANCO but at my / our cost and risk – a use the electronic services provided by THE BANK, to choose the jurisdiction, and take any other measures deemed necessary and appropriate in relation to the handling of my / our assets. The lawyer will also be authorized to instruct THE BANK, legally binding on my / our name for the handling of property and close loan agreements on my / our name in relation to securities in our custody. THE CLIENT accepts responsibility for any obligation that may arise as a result of all the activities of the lawyer, in addition, THE CLIENT accepts responsibility as creditors of THE BANK. However, the lawyer will not be authorized to withdraw, in whole or in part, securities / rights or credit balances of any kind, to commit them to any claim by THE BANK against the lawyer or third parties or make other payments to the purchase of said goods or the execution of the transactions mentioned above for the principal’s accounts. 2. Conclusion of separate agreements, THE BANK requires the creation of separate agreements for the execution of certain business transactions. THE CLIENT hereby authorizes the lawyer to conclude such contracts in my / our account and to accept any guidelines and receive newsletters relating to the risks in certain transactions and, if necessary, to sign my / our name when legally necessary. 3. Credit / assets as collateral. In matters of property management, the lawyer is authorized to request credits in EL BANCO to my / our name for my / our account to guarantee my / our assets against claims against me by EL BANCO and to sign the agreements of Credit corresponding to my / our name. The additional funds acquired through this concept will be managed by my / our lawyer based on the power granted. 4. Derivative exchange and forward transactions. THE CLIENT expressly authorizes the lawyer to carry out any derivative transaction, such as options and financial future as well as forward transactions. THE CLIENT confirms that those forward transactions through financial instruments executed by the lawyer in my / our account are at my / our own risk and that THE CLIENT exempts THE BANK from any responsibility. In particular, THE CLIENT is aware that such derivative financial instruments and forward transactions are not only used as collateral methods and that, depending on the product and the strategy, there could be considerable risks of losses. THE CUSTOMER is aware that margin coverage is required for certain forward and derivative transactions and that my / our assets in THE BANK will serve as collateral for it. 5. Risk of declaration. THE CLIENT hereby declares that he has been informed by the lawyer of the special risks that accompany these specific types of transactions, especially those related to securities transactions, and THE CLIENT expressly exempts THE BANK from any responsibility to inform us of these risks 6. Debit of handling charge. The lawyer is authorized to directly debit from THE CLIENT’s account their fees (including expenses and – if applicable – taxes). There is no obligation on the part of THE BANK to examine these charges. THE CLIENT is aware that THE BANK may grant the lawyer discounts based on volume in the commissions charged. The lawyer will have full responsibility to inform THE CLIENT about this volume discount. 7. The bank will have no obligation to supervise. THE CLIENT is aware that THE BANK does not exercise any control over the transactions executed by the lawyer by my designee who must be supervised by THE CLIENT. THE BANK is not obliged to review whether orders, instructions and directives as well as contracts if they are appropriate, nor to warn about the possible outcome. Nor to refuse the execution of any of these transactions. THE CLIENT is aware that THE BANK does not monitor if the lawyer is governed by the guidelines and regulations of professional organizations or any other regulations that even the bank had to observe. In any of these cases, it is the responsibility of the lawyer to keep me informed of all your transactions. 8. Receipt of invoices, account statements (s) of accounts in custody and notifications. The lawyer will not have access to the correspondence withheld in THE BANK addressed to my / our institution. However, the lawyer may receive copies of invoices, statements and any other correspondence sent to me / us. 9. Communication between the lawyer and the bank; The referral of instructions by the lawyer and sending notifications will be made through any delivery service (in addition to common mail also through telephone calls, fax, electronically etc). The lawyer is expressly authorized to sign additional contracts that may be required. In relation to communication with THE BANK, specifically the referral of instructions, the lawyer is authorized to appoint other people to support him in this matter. 10. The validity of this power granted to the lawyer will remain in effect until it is revoked by THE CLIENT and THE BANK is informed of said action in writing. 11. Applicable laws and jurisdiction. This power will be governed and interpreted exclusively under the laws of Dominica. This power applies to all transactions executed by the lawyer. In addition, the general conditions of THE BANK and all those regulations governing custody and all relevant special conditions will apply, as well as contracts (such as guarantee agreements, credit agreements) concluded by the principal or his lawyer acting on his behalf with THE BANK or third parties (such as experts, changes of guarantees, etc.) for the purpose of managing the principal’s assets. The place of execution of the obligations of both parties, the place of collection of debts, the latter for clients residing outside of Dominica, as well as the exclusive place of jurisdiction for any possible dispute that may arise in relation to this power will be Dominica. However, THE BANK reserves the right to take legal action against the guarantor of power before the authorities of its domicile or before any competent authority, in both cases the Dominican laws will be applied exclusively.

SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN THIS AGREEMENT in any other agreement that governs your accounts with THE BANK, THE CLIENT authorizes THE BANK hereby to accept and charge any of its accounts, existing or created in the future, ( the accounts) by instructions received (each, a “payment order”) whether it has been expressly transmitted, electronically (including fax) or in writing, to pay the amounts specified in the US dollar or, in some circumstances, in foreign currency to you or third parties identified by you. THE BANK may from time to time and in writing notify you of amendments to the terms and conditions of this agreement. Even if you do not sign this agreement, it will be understood that you have accepted these terms if you send us a payment order or when you receive a payment order in your account.

You authorize us to accept your signature facsimile in this account and agree that your signature facsimile will have the same legal effect as your original signature.

You authorize EL BANCO to request and present to EL BANCO correspondents and banks custody any information that these entities may require about you for any transaction that needs to be processed through us.

You have selected a security process (the “security process”) to be used in relation to the payment of orders as indicated below. If the security process is a personal identification number (nip), you accept it and it is commercially reasonable. If the security process is different, you agree that THE BANK has offered you a security process through a PIN and you have selected another security process after considering and denying the PIN security process. Payment orders and cancellations and amendments are subject to verification by THE BANK according to the security process.

You will be responsible for the unauthorized use or disclosure of the material that has been delivered to you for the security procedure. You authorize THE BANK to accept and charge the accounts, without limit of amount, and you agree to accept, each payment order to a beneficiary designated by you (and any amendment or cancellation of a payment order), as long as It has been accepted by THE BANK and has complied with the security process, even if this payment order has not been approved by you. THE BANK may debit an account for the amount of the payment order even if it is addressed to any of its officers, agents or employees.

If THE BANK receives a payment order to transfer funds from an account that does not have sufficient funds, THE BANK may but is not obliged to accept it, either through the creation of an overdraft in the account or transferring funds of other accounts, in any of these cases, only for the amount of the deficiency.

THE BANK shall have the right to refuse or delay the acceptance of a payment order for any reason, including due to insufficient funds or incomplete or ambiguous instructions. In addition, THE BANK will not be obliged to accept or make any amendment, or cancel a payment order and may condition its execution upon receipt of compensation or guarantee for it.

You must indicate the shipping instructions for each payment order, including the beneficiary’s account number. If the shipping instructions are not submitted, THE BANK will send said payment orders through the routes it deems appropriate at its sole discretion, after consulting the standard references of correspondent relations. In the execution of each payment order, THE BANK will use the transfer of funds and communication systems in which it participates and that are appropriate in relation to said payment order. THE BANK shall not be liable for errors, delays or negligence in said transfers of funds through communications systems, or of any intermediary, agent or sub-agent used by THE BANK in the process of payment of an order, each of these shall be considered Your agents

You agree to confirm immediately and in writing any payment order required by telephone, however the responsibility of THE BANK with respect to said payment order will not be affected by the lack of receipt of said confirmation or the content thereof

In the execution of a payment order, THE BANK will be guided by the identification of the beneficiary’s account number, THE BANK of the beneficiary or an intermediary bank instead of the name of the beneficiary. THE BANK will not be obliged to detect inconsistencies between the name and any number contained in a payment order. Therefore, you will be responsible for the inconsistencies and must indemnify and exonerate the bank from any loss, liability, expense or damage that may be incurred as a result of such inconsistencies and will indemnify, including, without being limited to the professional attorneys’ fees. and judicial expenses.

THE BANK will provide you with periodic account statements where you will find a detailed description of each payment order made on your behalf. Said statements of account will be issued monthly or in more frequent periods as determined by THE BANK, and will be sent to or retained in THE BANK in accordance with the written instructions received by THE BANK, in relation to the handling of correspondence relating to the accounts . If the account statements or other correspondence related to the payment of said orders is retained by THE BANK according to its instructions, it will be considered that you have received them from the moment they are available to be collected by you. It will be considered that you have received any information that THE BANK has sent you five business days after being sent as provided in the account opening application or any other document that covers this matter.

Within a reasonable time not exceeding five (5) business days from the receipt of any information regarding a payment order or the next business day after receiving each notification, whatever the shortest period, THE CLIENT You must notify THE BANK of any discrepancy, unauthorized transaction or other errors. If this notification has been made orally, you should confirm this information in writing as soon as possible.

THE BANK must receive a payment from you for any payment order issued in your name that THE BANK has executed or paid.

THE BANK must send or ensure that you have access to notification of identification of a payment order, you will be exempt from proving that THE BANK does not have the right to withhold a payment for the amount of the payment order; or refuse to debit the corresponding accounts, unless THE BANK has received notification of its objection within the month following the date THE BANK sent the first notification identifying the payment order.

When required, you will have to provide THE BANK with any information regarding transactions necessary to process inquiries and traces, including but not limited to dollar amounts, affected accounts, dates and beneficiaries.

THE BANK is fully authorized but not obliged to keep records of telephone calls between you and THE BANK so that you hereby accept these records. This authorization and consent will remain in effect for all telephone calls until you submit a written revocation and it is received by THE BANK.

THE BANK shall not be liable for losses or delays caused by fire or other catastrophes, mechanical, computer, telecommunications or electrical failures, or natural disasters or any other circumstance beyond the control of THE BANK. Circumstances beyond the control of THE BANK include, but are not limited to, declared or undeclared wars, freezing of property, exchange controls, censorship, nationalizations, confiscations, expropriations, blockades, revolutions, or any law, decree, moratorium, regulation, control by public authorities or by domestic or foreign governments, in fact or in the right to exist obligation of THE BANK in relation to transfer of funds, or the return of funds to the original sender, it will be suspended as long as it is necessary for any of the situations or circumstances described above.

This agreement will be governed and interpreted by the laws of DOMINICA.

THE CLIENT agrees to compensate THE BANK and exempt it from any loss, obligation, expense or damage (including but not limited to professional attorney fees and legal expenses) caused by the execution of payment orders that THE BANK has accepted in good faith .

THE BANK could charge, and you would be obliged to pay, the usual and customary charges as established, for funds transfer services. THE BANK may, in its sole discretion, debit from any of the accounts the amounts corresponding to bank charges or any other amount that you owe to THE BANK.

You agree that any action or process related to a payment order or to this agreement will be submitted to the Dominica court with a presence in Dominica, and you agree to refer to the jurisdiction of each of these courts for such actions or processes. Both you and THE BANK dispense any right that both of you may have to a jury trial with respect to any action, procedure or against claim related to any payment order or to this agreement.

MONEY MARKET SILVER

MONEY MARKET PREMIUM

SAVINGS ACCOUNT

Individual CD

CREDIT CARD

PERSONAL CREDITS