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General Terms

General terms of INTERNATIONAL ASSET BANK AD
concerning E-banking service


1. These General Terms form an integral part of the contract on E-banking service, concluded between the Bank and the Customer and they define the manner and the terms for service’s usage.
2. E-banking service is a real-time service effected in two ways:
2.1. E-banking via Internet called INTERNET banking.
2.2. E-banking via WAP – MOBILE banking.
3. E-banking service facilitates real-time remote access to the accounts of the customer opened with the Bank. It allows to the customer to:
3.1. Obtain info on BGN and foreign currency accounts’ balance;
3.2. Obtain info on the operations on BGN and foreign currency accounts;
3.3. Obtain info on the status of customer’s credits and overdraft;
3.4. Obtain info on the interest rates, charges and exchange rates of the Bank;
3.5. Obtain info on the result of the initiated operations;
3.6. Place an order for issuance of debit/credit cards;
3.7. Initiate payment orders under BGN accounts;
3.8. Initiate budget payment orders under BGN accounts;
3.9. Place an order for opening of deposits, funded by customer’s account.
3.10. Initiation of payment orders on accounts in foreign currency.
3.11. Initiation of orders for change operations between customer’s accounts.
3.12. Initiation of payment orders for discharging credit obligations.
3.13. Initiation of request for immediate encashment on BGN accounts.
3.14. Refusal of initiated orders that have not been confirmed by the Bank.
4. The BANK guarantees CUSTOMER’s access to the e-banking system 24 hours a day except for the time the Bank needs to prepare for work with the next date or other routine interference requiring individual system administration.
5. The BANK guarantees access to E-banking service using the technical method as agreed with the CUSTOMER, user code and initial passwords for access of persons authorized by the CUSTOMER and listed in the annex to the contract.
6. To benefit from E-banking service the CUSTOMER must open an account or use accounts already opened with the Bank for which account servicing contract exists.
7. The CUSTOMER must nominate in writing the persons who shall operate with the accounts under section 6 specifying their rights to access. To confer powers subject to s. 3.6,s. 3.7,s. 3.8,s. 3.9,s. 3.10,s. 3.11,s. 3.12,s. 3.13 an explicit authorization is requested under the form of notary certified power of attorney. This power of attorney may be withdrawn with a written document furnished by the CUSTOMER to the BANK valid from the day following its furnishing date.
8. The BANK executes, within the terms set in Regulation No. 3 on cashless payments and the national payment system, all CUSTOMER’s orders on money transfers placed with the Bank from 9.00 a.m to 2 p.m during official business days. The orders placed after 2 p.m. and during vacation days are considered received by the BANK on the next bank’s day of business.
9. The BANK makes its payments in the chronological order as initiated by the CUSTOMER. Payments cannot exceed the balance of the operative accounts.
10. Upon payment effectuation the BANK doesn’t investigate the legitimacy of deals except where provided for with a legal act.
11. The CUSTOMER is obligated within three business days of initiation of each e-payment to furnish to the BANK written payment instrument corresponding to the requirements of Regulation No. 3 of the Bulgarian National Bank or BANK’s standards depending on the type of payment. This document must confirm that the payment had already been ordered in an electronic way.
12. Upon order of international transfers besides the above said the customer must send forthwith to the BANK via fax the documents certifying the grounds for payment and any other documentation required by the operative law. Within three business days the Customer must furnish to the BANK certified copies of the original documents /invoices, customs declarations etc./ and the originals of the necessary declarations. The BANK preserves its right to refrain from processing and effectuating payment orders for national and international transfers until satisfaction of its demands concerning provisioning of supplementary information or papers connected with the requirements of the operative financial or monetary legislation.
13. The CUSTOMER is obligated to effectuate payments in conformity with all requirements of Bulgarian legislation.
14. The CUSTOMER is obligated to exercise control guaranteeing that the service is not to be used by any unauthorized person. For security reasons the CUSTOMER must organize periodic change in the passwords of persons entitled to work with the system. It bears thorough responsibility for the control over the safe access to the system.
15. The CUSTOMER is obligated not to communicate user’s codes and passwords to any unauthorized person.
16. Where the CUSTOMER suspects that the user code or passwords are known to unauthorized persons it must notify the BANK in writing or another appropriate manner and take all measures limiting any possible damage. The Customer is responsible for all damages arising from misuse of the identification and/or data transfer means, or ill-intended access of the persons nominated and authorized by the latter.
17. The CUSTOMER or the BANK may demand at any moment generation or usage of new user code or passwords.
18. The CUSTOMER is obligated to notify immediately the BANK for any change in the data herein contained or the persons authorized to use this service. These changes are valid for the Bank from the day following the day of the written notification.
19. The Customer is not entitled to dispute the validity of payment orders, demands and requests communicated to the BANK via Internet.
20. Payment orders initiated through E-banking service are considered irrevocable if received by the BANK, if the technology for exchange of information had been complied with and if the declared accounts have the assets needed. The Customer is responsible for all obligations resulting from the use of E-banking service.
21. The Customer may refuse payment and withdraw a placed order where by the moment of withdrawal its account had not been reduced with the amount subject to the operation. The costs for bank technical servicing are to be billed to the CUSTOMER.
22. The CUSTOMER is obligated to follow strictly the information exchange technology under the contract hereof. Upon breach of technology requirements the electronic exchange of documentation is temporary ceased until reasons clarification.
23. The BANK reserves its right to alter the information exchange technology and the other terms contained in the contract concluded with the CUSTOMER in case of change in the technical and technological requirements related to functioning of the payment system. In such cases the Bank must notify the CUSTOMER in a timely manner of any change. If within 1-month’s time the Customer doesn’t affirm in writing its desire to terminate the contract it’s considered that the Customer accepts this change.