These Terms and Conditions govern the Customer’s Account(s) with CIMB Bank PLC (”the Bank”).

1. General Terms and Conditions

1.1 The opening, general operation and closing of deposit account is governed by these Terms and Conditions which may be added to, amended, varied, rescinded and modified from time to time at the Bank's sole discretion with or without notice and the customer agrees to abide and continue to be bound by these Terms and Conditions, amendments, variation, rescission and modification thereof.

1.2 The definition of the deposit account shall include all forms of savings, current and fixed deposit accounts currently being offered or to be offered by the Bank in the future.

1.3 The customer is required to produce valid registration or identification documents and such other documents as determined by the Bank from time to time for the operations of the deposit account. The customer shall ensure that all documents submitted to the Bank remain valid at all time.

1.4 The acceptance of a new account is at the     sole discretion of the Bank which reserves the right to reject the application without being obliged to disclose any reason whatsoever and the said decision by the Bank is final.

1.5 The Bank may also, at its absolute discretion, close an account by giving a written notice to the account holder of such closure and the Bank shall not be bound to disclose any reasons thereof. The account holder shall comply with the Bank's requirements, if any, for the closure of the account.

1.6 The Bank reserves the right to impose service charges/fees or any penalty which would be payable in USD or KHR equivalent.

1.7 Inter branch deposits and withdrawals are allowed but subject to the amount, frequency and charges (if any) as determined by the Bank.

1.8 The customer must obtain all necessary approvals which may be required by any applicable laws and regulations including any authorization, if applicable, from the appropriate Cambodian authorities to enable the customer to open, maintain and operate an account with the Bank.  The Bank may request the customer to provide evidence of such approval at any time but is not obliged to ascertain and/or verify that such approval has been obtained.

1.9 The Bank reserves the right to request, from time to time, further information or documents in compliance or in accordance to the applicable Cambodian Law on Anti-Money Laundering and Combating the Financing of Terrorism and relevant regulation and/or such similar regulations, and the customer undertakes to immediately provide to the Bank such information or documents as and when requested.

1.10 The customer undertakes to notify the Bank in writing as soon as possible of any instruction or change of relevant records such as a change in signature / signatory(ies), change in address or any other personal or corporate information. The Bank shall not be liable for any losses incurred by the account holder in respect of changes that have not been properly notified to the Bank. The Bank also shall not responsible for any delay or omission in carrying out such instruction.

1.11 Interest earned by the account holder is subject to withholding taxes and/or levies as may be imposed from time to time by the Royal Government of Cambodia and/or any other regulatory bodies.

1.12 Account with no operation for one (1) year or more shall be deemed as dormant or inactive account. In order to reactivate a dormant or inactive account, a debit transaction shall be performed at the branch where the account was opened or any other branch of the Bank.

1.13 The Bank may set off all or any of the credit balance under any of the accounts including Joint Account and Fixed Deposit Account opened with the Bank against any indebtedness of the account holder may have with the Bank which is due for payment but which has not been paid.

1.14 Before making a deposit, customers are to ensure that all particulars in the deposit/payment slip are duly completed. Any alterations on the deposit/ payment slip must be signed in full by the customers. All deposits should be made using the standard forms provided by the Bank and the instructions contained therein shall be strictly observed.

1.15 The Bank reserves the right to amend/alter under advice, the deposit slip in case of wrong addition or errors.

1.16 Any deposit  made or placed  into an account  with  checks, drafts postal and money orders, bills of exchange,  promissory  notes and other commercial  papers or orders  ("Payment Instrument "), shall  become effective and valid only if the  Payment  Instrument is duly paid and cleared. In case the Payment Instrument is returned unpaid, the Bank shall have the right to debit the account and charge a fee to cover any expenses which may be incurred with respect to the collection of such Payment Instrument. Any deposit acknowledgement slip which may be issued by the Bank shall automatically become void and null without requiring the Bank to serve notification to the account holder.

1.17 Loan, credit card or any other payments which are accepted by the Bank in the forms of cash or checks, are without prejudice to any recovery action, pending or contemplated, for the full outstanding amount(s).

1.18 Any demand or notice to the account holder which is made in writing by the Bank and addressed to the account holder shall be deemed to have been served if delivered  to  the account  holder  personally or after posting to the last known address of the account holder which is registered with the  Bank.

1.19 Any account maintained and operated with the Bank as well as and all documents including passbook, deposit acknowledgement slip issued by the Bank with respect to the account, may not be used as collateral in any form whatsoever, whether registered or not, by the account holder without the express written consent from the Bank which has the discretion to withhold the consent without being obliged to give any reason for such refusal.

1.20 Any closure of the account shall be done in person by the account holder by submitting the prescribed written as required by the Bank.

1.21 Cash withdrawals via ATM shall be subject to the Terms and Conditions Governing Operations of ATM Card.

1.22 Where the deposit account consists of two or more parties ("Joint Account"), these Terms and Conditions shall apply to all Joint Account holders, jointly and severally.  Each Joint Account holder shall be individually liable to the Bank for the full amount of any liability of the Joint Account holders to the Bank. On proof of death of any Joint Account holder, the survivor or survivors shall be the only person or persons recognized by the Bank as having an ownership of, or interest in, the account and the person or persons shall be entitled, subject to Terms and Conditions herein and the Bank's prior approval, to transfer the account into another name or to close the account or to withdraw money from the Joint Account subject always to payment of all outstanding amounts owing to the Bank is settled in full.

1.23 The account holder agrees to authorize the Bank to withdraw the amount which is credited to the account holder’s deposit account by errors or mistakes by the Bank, without a need to obtain prior consent from the account holder.

1.24 Dormant or inactive account which has remained dormant or inactive for 10 consecutive years counting from the last active date will be closed, and the Bank will transfer credit balance to National Bank of Cambodia (NBC) with supporting document as NBC requires.

2. Savings Account

2.1 The Bank may impose an initial deposit amount for the opening of new Savings Account and a minimum balance to be maintained at all times. The Bank reserves the right to change from time to time the requirement for initial deposit and minimum amount to be maintained in the account with or without prior notice.

2.2 Interest payment earned on the deposit made into Savings Account shall be calculated on the daily available balances based on the Bank's prevailing rates and policy. Interest shall be credited monthly into the Savings Account on the last day of every month or such other date as determined by the Bank at its discretion.

2.3 All deposits may be placed into the Savings Account with or without passbook, provided that such deposits shall be accompanied by the duly completed prescribed deposit slip.

2.4 Withdrawals may only be made in person by the account holder by producing an identification document, passbook and a duly completed withdrawal slip and any other relevant documents as maybe requested by the Bank, particulars at which have been duly verified by the Bank. When the account holder withdraws the entire saving balance, the Savings Account shall be deemed to be closed.

2.5 All withdrawals shall be subject to the availability of such currency notes at the sole discretion of the Bank and the Bank shall not be held liable to the account holder at any branch of the Bank and in any currency converted at the Bank's prevailing rate of exchange. The account holder shall be responsible for any loss suffered pursuant to such conversion, sale or purchase as the Bank shall determine. Any such discharge shall release the Bank from any liability to the account holder.

2.6 The Bank shall not be responsible for any entry or sum not acknowledged in the passbook under the signature of an authorized staff or validated by the Bank's teller machine. The account holder is therefore advised to carefully examine entries in the passbook before leaving the Bank's premises.

2.7 A loss of passbook must be notified to the Bank immediately in writing. The Bank accepts no responsibility for any losses or damages suffered by the account holder, due to the negligence of the account holder, should there be any fraudulent withdrawal from the account prior to the Bank's receipt of written notice of such loss of the passbook. The Bank will levy a charge for the issuance of a new replacement passbook, provided that the account holder duly signs the letter of indemnity.

2.8 Replacement of lost passbook will only be done at the branch where the account was opened.

2.9 If an account holder wishes to close the Savings Account, he/she has to be present in person by producing the identification document, passbook and completing the account closure form. The Bank does not accept any instruction in the form of telephone, email or any other form of notification whatsoever.

2.10 A service charge will be levied on Savings Account that is closed within 6 (six) months of its opening.

3. Current Account

3.1 The Bank may impose initial deposit for the opening of new Current Account. There will be no minimum balance required to be maintained and the Current Account shall be a non-interest bearing deposit account, unless otherwise stated. Each deposit shall be accompanied by the prescribed deposit slip.

3.2 The application of check books shall be made in writing or in the Bank's prescribed form. Check books will be couriered at a fee to the mailing address given by the account holder provided all requirements in support of such request are completed or collected personally at the Bank.  Subsequent check books can be requisitioned through the requisition leaf available in the check book subject to the account satisfactory conducted. Third party collection of checks book is only allowed with the written instruction by the account holder.

3.3 Checks for operating the Current Account will be supplied by the Bank. All drawings on the branch of the Bank where the account is maintained can only be made using the checks supplied by the Bank. Electric/electronic typewriter and erasable ink should not be used for drawing checks. The Bank shall not be held liable for any losses arising from the use of Electric/electronic typewriter and erasable ink.

3.4 The account holder shall keep all the checks in a safe place at all time. A loss of check must be notified to the Bank immediately in writing. The Bank accepts no responsibility for any losses or damages suffered by the account holder, due to the negligence of the account holder, should there be any fraudulent withdrawal from the account prior to the Bank's receipt of written notice of such loss of the check.

3.5 If the account holder draws several checks or issue several instructions for payment on the current account and if the aggregate amount of the checks or the payment instructions exceeds the disposable credit balance or any prior arrangement made with the Bank, the Bank shall be entitled, with the fund available, to pay the check or instruction for payment which has been first presented for payment, irrespective of the dates written on the checks or the dates of these instructions.

3.6  Inter branch check encashment by individual Current Account holder is allowed subject to the available balance, limits and prescribed charges, if any, as determined by the Bank.

3.7 Notice of the intention to stop payment of any check must be in writing in a form satisfactory to the Bank and the said notice shall include the following details: check number, account number, amount, name of payee and date. The Bank will only record the order countermanding payment of the check upon receipt of the notification letter from the account holder. The Bank shall not be held responsible for any losses caused by an oversight or the non-receipt of the notification letter. Any instruction is received to stop payment of a check conveyed either verbally or  by way of telephone,  telex  or  telegram  is not  acceptable to the Bank,  unless such instruction to stop payment is followed immediately by a written  confirmation by  the account  holder. The Bank shall be not held liable under any circumstances for any losses incurred by the account holder by virtue of the verbal, telephonic, telex or telegraphic instructions to stop payment on a check. The Bank reserves the right to levy a service charge as determined at its sole discretion from time to time for executing each and every stop payment.

3.8 In the event that a check is dishonored by the Bank, the Bank may, (but shall not be obliged to), return the check to the presenter with or without stating the reasons. The Bank shall not be held liable to the issuer of the check, beneficiary or any third party for dishonoring a check, provided that the Bank acts in good faith. The Bank reserves the right to levy a penalty as determined at its sole discretion from time to time for dishonoring a check.

3.9 Withdrawal from Current Account shall be subject to the available funds in the account. The Bank reserves the right to close the account and/or dishonored checks if the account has been listed by and/or classified under Dishonored Check based on the Bank's prevailing terms governing Dishonored Checks.

3.10 Unless otherwise provided to the Bank's rule governing its e-banking services, a statement of account will be provided on a monthly basis to be collected at the branch where the account was opened, unless otherwise arranged by the Bank. The account holder is required to review the transaction recorded in the statement and notify the Bank any errors, irregularities, discrepancies, claims or unauthorized debits. If the Bank does not receive any notification in writing of any error or discrepancy with regard to the debit or credit entries in the statement within 14 days from the last day of the month covered by the statement, then the account holder is deemed to accept such entries made up to the date of the last entry in the statement as correct, binding and conclusive.

3.11 The Bank reserves the right to impose a half yearly service charge as well as charging a fee for the issuance of check books and closure of current accounts.

3.12 The closure of current account shall be in written notice and any instruction conveyed either verbally or by way of telephone, telex, email or telegram would not be accepted by the Bank. All checks shall remain the property of the Bank and upon closure of the current account; all unused checks shall be returned immediately to the Bank.

4. Fixed Deposit Account

4.1 The Bank shall specify a minimum deposit amount and tenure and reserves the right to change such minimum deposit amount and tenure from time to time at its sole discretion.

4.2 The placement of fixed deposit is evidence d by Fixed Deposit Acknowledgement Slip duly certified by the Bank's authorized signatory(ies) and the slip is not a document of title.

4.3 Interest  at  such rates  as the  Bank  agreed  with  the  account  holder  shall  be paid to  the account  holder in accordance  with  the  Bank's prevailing practice.

4.4 Any partial withdrawal prior to maturity will be deemed as a premature withdrawal.

4.5 Upliftment of Fixed Deposit can only be made at the branch of the Bank where the Fixed Deposit is maintained. Prior notice of thirty-one (31) days is required for 3 months tenure and above.

4.6 No interest is paid for any premature withdrawals of less than 3 months tenure. Interest payment may be paid at the sole discretion of the Bank based on the completed months for fixed deposits which have been placed for a minimum of 6 and 12 months.

4.7 When the entire placement within the Fixed Deposit is withdrawn, the Fixed Deposit account deems to be closed.

4.8 All fixed deposits not withdrawn upon maturity date shall be automatically renewed, unless otherwise stated  in the application, for the same tenure based on the Bank's prevailing interest rate applied at the time of renewal.

5. Joint Account

5.1 Where an account consists of two or more account holders ("Joint Account"), these Terms and Conditions shall apply to all Joint Account holders, jointly and severally. Each Joint Account holder shall be individually liable in full amount to the Bank for any operation conducted with respect to Joint Account. Any request for addition or changing of any Joint Account holder shall be made in writing duly signed by all Joint Account holders. The request letter shall state the reason and confirm the balance as of the date of request.

5.2 The instructions regarding the operations on a Joint Account can take any one of the following forms:

-       Either Joint Account holder;

-       All Joint Account holders; or

-       Any two or more of the Joint Account holder(s)

The mode of operation chosen shall be recorded in the form prescribed by the Bank.

5.3 The mode of operation of a Joint Account after it is opened can be altered only with the consent of all the Joint Account holders.  The Bank will not be bound to act on the instructions of one or some of the Joint Account holders regarding such alteration. The closure of a Joint Account shall also require having the consent of all Joint Account holders.

5.4 In the event of death, bankruptcy or insanity of any of the Joint Account holders, any credit balance in the Joint Account may be paid to the survivor(s) subject to compliance (if required) with the relevant laws and regulations.

6. Indemnity

6.1 The  account  holder  unconditionally  and  irrevocably  agrees to indemnify the  Bank  and  keep  the  Bank  indemnified  against  all  claims, demands, actions,  liabilities, damages,  costs, losses  and expenses of whatever nature which the Bank may incur in anyway in connection with any credit or banking facility or accommodation, performing any banking service for the account holder, any check or other instrument of or in favor of the account holder or any account of the account holder (the "CIMB Bank's Liability") and, without limiting the foregoing, to pay to the Bank on demand all sums which may be claimed from the Bank or which the Bank may pay or become liable to pay under or by reason of or in connection with the Bank's Liability.

6.2 The Bank may pay immediately any and all amounts claimed from it or which the Bank may become liable to pay under or in connection with the Bank's Liability without any reference to or further authority from the account holder and without being under any duty to enquire whether any claims on the Bank are properly made, even if the account holder disputed the validity of any such claim, and the account holder shall accept any claim on the Bank and any payment which the Bank makes as binding on the account holder. The amounts paid by the Bank shall be debited from any of the account including Joint Account and Fixed Deposit Account maintained by the account holder with the Bank.

6.3 The account  holder(s) hereby agree and authorize the Bank to disclose to any person(s) in or outside Cambodia including but not limited to companies within the group of the Bank as well as companies within the group of CIMB Group Holdings Berhad, the Bank's ultimate holding company  ("Group Companies")  whether  such  Group  Companies  are residing,  situated, carrying on business,  incorporated or constituted within or outside Cambodia any information  about or with regard to the account holder (s), the affairs of the account holder(s) and/or banking accounts of the account holder (s) for such purposes as the Bank deems fit or appropriate. Disclosure to Group Companies which are involved in the promotion, sale, delivery and distribution of financial products and services shall be for facilitating the operations, businesses, cross-selling and other purposes of the Bank and/or the Group Companies.

7. Miscellaneouss

7.1 The rights of the Bank under these Terms and Conditions shall be in addition to all other rights to which the Bank may be entitled. If any of these Terms and Conditions or the terms of any agreement with the account holder is unlawful or unenforceable then at the Bank's election they may be severed from these Terms and Conditions without affecting any of the other terms and conditions.

7.2 The Bank may retain as security for liabilities to the Bank all property or monies or assets of the account holder or placed by the account holder in the Bank's possession or custody for safe keeping, or otherwise.

7.3 Any forbearance or failure or delay by the Bank in exercising any right, power or remedy or partial exercise thereof shall not be deemed as a waiver of such right, power or remedy and shall not preclude any further exercise thereof. The Bank’s rights, powers, and remedies shall continue in full force and effect until such rights are specifically waived by an instrument in writing executed by the Bank.

7.4 In respect of its liabilities arising from time to time to the Bank, the account holder hereby irrevocably waives any immunity (sovereign or otherwise) to which it or any of its property or assets may be entitled under any law from enforcement or other legal proceedings or any court judgment or arbitral award.

7.5 If any payment due to the Bank by the account holder is subject to any withholding or deduction, the account holder shall pay to the Bank such additional sum as may be necessary to ensure that the Bank receives, is entitled to retain without any further liability on the Bank's part a net sum equal to the amount that would have been due from the account holder had no such withholding or deduction been made.

7.6 The account holder's liabilities to the Bank will not be affected by any change in its constitution or legal status and will bind all successors of the representatives of the account holder.

7.7 The account holder shall not assign or transfer any rights or obligations under or in connection with any account or any other agreement or transaction entered into by and between the account holder and the Bank to any party without the prior written consent of the Bank which has the discretion to withhold the consent without having to give any reason for such refusal.

7.8 In case of discrepancy between the English version and the Khmer version, the English version shall prevail.

7.9 Unless  otherwise  specifically  agreed  between  the  Bank  and  account holder,  these  Terms  and  conditions  shall  be  governed  by  the Cambodian laws and regulations. The account holder irrevocably  agrees that in  the event of any  dispute arising in connection with these Terms and Conditions or any other agreement between the Bank and the account holder or any other financial or commercial matter between the Bank and the account  holder,  such dispute  shall, at the sole option of the Bank, be referred  to and resolved  by the Court of Cambodia. Any decision of the court shall be binding and final.  Costs including legal costs relating to the disputes resolution shall be borne by the account holder.

7.10 The account holder is responsible for the correctness of information supplied to the Bank. The Bank shall not accept any liability for the consequences arising out of erroneous and/or incorrect information supplied by the account holder.

I/We hear by acknowledge that I/We have access and /or read the Term and Conditions Governing the Operations of Deposit Accounts issued by CIMB Bank PLC and confirm my / our agreement to the same.