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Terms & Conditions
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Consumer Banking Terms and Conditions
This version of the Terms and Conditions is effective from June 15, 2009
1. Introduction
| 1.1. |
These Terms and Conditions (the "Terms and Conditions") set out the rules and principles
governing the opening and maintenance of current customer accounts with an overdraft
facility and the provision of other banking services and financial products offered by ZAO
Citibank ("Citibank") to customers as described herein. These Terms and Conditions, a
Banking Services Application Form (the "Application") duly completed and signed by the
customer (the "Customer") and Citibank, and the Citibank fee and commission schedule
(the "Tariffs") shall together constitute a banking services agreement between the
Customer and Citibank (the "Banking Services Agreement").
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| 1.2. |
This Banking Services Agreement shall govern the opening and maintenance by Citibank
of all accounts opened in the name of the Customer and the provision of all other banking services and financial products offered by Citibank to the Customer. Certain types of
accounts, banking services or financial products may be offered by Citibank to the
Customer subject to separate contracts, agreements or service rules as may be established
by Citibank from time to time. In the event of a conflict between the provisions of this
Banking Services Agreement and any specific contracts, agreements or service rules applicable to any particular accounts, banking services or financial products, such separate
contracts, agreements or service rules shall prevail.
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| 1.3. |
The extending of any credit by Citibank to the Customer hereunder in the form of an overdraft, a line of credit or otherwise shall be at the sole discretion of Citibank and without
any commitment on its part as to making available or maintaining any type of loan.
Citibank may provide both unsecured and secured loans to the Customer in the form and
in the procedure as may be determined by Citibank.
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| 1.4. |
In this Banking Services Agreement, unless the context otherwise requires:
- a reference to a clause, section or schedule is a reference to that clause or section of, or
schedule to, this Banking Services Agreement;
- a reference to this Banking Services Agreement or any other document is a reference to
this Banking Services Agreement or such other document as the same may be amended,
varied, modified, supplemented, etc.;
- the headings contained herein are included for convenience only and shall not affect the
interpretation of this Banking Services Agreement; and
- the following terms and symbols: "rouble" or "RUB", "dollar" or "$" or "US$" or "USD",
and EUR or "ˆ", shall mean the Russian rouble, the United States dollar, and the euro,
respectively.
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2. Overdraft Facilities and Lines of Credit
Rouble current accounts will be opened by Citibank for the Customer with an overdraft facility
or a line of credit, both representing a form of credit extended by Citibank to the Customer. This
Section sets out the terms and conditions upon which Citibank will provide overdraft facilities
and lines of credit in respect of the Customer's rouble current account.
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| 2.1. |
The overdraft facility and the line of credit represent the forms of credit extended by
Citibank to the Customer which allow the Customer to effect debit transactions in respect
of his/her rouble current account in excess of the funds available in the account. Such
overdraft facilities and lines of credit involve the establishing of a credit limit for the
Customer to be used when the balance of funds in the Customer's account is insufficient for a payment or any other transaction initiated by the Customer. The Customer shall repay
such loan and pay accrued interest in accordance with this Banking Services Agreement.
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| 2.2. |
Based on the Customer's Application and other documents that the Customer may be
required to submit to Citibank, Citibank will determine if the Customer meets the lending
criteria established by Citibank. If the Customer meets such lending criteria, Citibank will
establish a credit limit for the Customer and will open a rouble current account in the
Customer's name with an overdraft facility or a line of credit as well as such other accounts
as may have been requested by the Customer in the Application. Citibank will advise the
Customer in writing of establishing the credit limit and opening the accounts in the
Customer's name.
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| 2.3. |
The Customer agrees that the amount of the overdraft facility or the line of credit
available to the Customer is established by Citibank at its discretion and Citibank
may at any time reduce, increase or cancel the credit limit of the overdraft facility or
the line of credit set for the Customer.
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| 2.4. |
The Customer may utilize the available overdraft facility or line of credit (in a single or
multiple drawdown) by charging transactions to his/her rouble current account, including cash withdrawals at ATMs, payments for goods and services by Bank Card, etc., and, in
the case of the line of credit, by transferring the unutilized amount of the line of credit to
his/her rouble current account irrespective of the cash balance available in the rouble
current account. The Customer understands that certain Bank Card transactions (e.g.
transactions in different currencies or transactions involving the use of ATMs or different
payment systems, and certain other transactions) may result in, or increase, the Customer's
overdraft or line of credit debt due to applicable foreign exchange rates and/or fees, commissions and charges as may be established by Citibank or other banks, financial institutions and/or payment systems through which such transactions are processed.
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| 2.5. |
For the Customer's convenience, the Account Statement (as defined below) will show the
amount of outstanding overdraft facility or line of credit, and interest accrued thereon
and fees and commissions applicable thereto, as an amount in a separate loan account.
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| 2.6. |
Citibank shall charge interest on the outstanding amount of the overdraft facility and the
line of credit at the rates set forth in the Tariffs. A fee for the late repayment of the line
of credit debt and penalty interest for exceeding the overdraft facility or the line of credit limit are determined by Citibank in the Tariffs. Interest on the outstanding amount of
the overdraft and the line of credit will accrue daily starting from the day following the
day of drawing under the overdraft facility or the line of credit and until the day the debt
is paid off in full, and will be payable by the Customer to Citibank on a monthly basis.
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| 2.7. |
Citibank may, by written demand, at any time require the Customer to pay off the whole of the then
existing overdraft facility or line of credit debt. The Customer shall pay off the debt within thirty (30) days
of written demand by Citibank. The debt shall include (à) one hundred (100) percent of the amount of
credit limit used, plus (b) fees, commissions, interest, penalties and penalty interest accrued on
the amount of credit limit used. The line of credit debt shall be paid off by transferring its amount from
the Customer's rouble current account to the Customer's loan account with Citibank. The amounts of
interest, fees and commissions charged by Citibank are set forth in the Tariffs.
If the overdraft facility is used in excess of the available limit, the Customer shall, within thirty (30) days,
pay off the whole overdraft facility debt, plus fees, commissions, interest, penalties and penalty interest
accrued on the overdrawn amount. The amounts of interest, fees and commissions charged by Citibank
are set forth in the Tariffs.
In relation to the line of credit, the Customer shall ensure that the funds available in his/her rouble current
account on the day preceding the payment date indicated on the Account Statement are sufficient to make
a minimum monthly payment calculated as at the monthly Account Statement generation date as
(a) ten (10) percent of the amount of credit limit used, plus (b) fees, commissions, interest, penalties and
penalty interest accrued on the amount of credit limit used, (the "Minimum Monthly Payment"). The amount
of the Minimum Monthly Payment shall be automatically debited by Citibank from the Customer's rouble
current account on the payment date indicated on the Account Statement (the "Payment Date").
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| 2.8. |
Any payments or transfers credited to the Customer's rouble current account will automatically reduce the amount overdrawn on the account, but will not reduce the amount of the
outstanding line of credit, except when Citibank automatically debits the amount of the
Minimum Monthly Payment on the Payment Date.
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| 2.9. |
The Customer undertakes to repay the outstanding amount of the overdraft and the line
of credit and pay interest, penalty interest (calculated based on the compound interest
formula) for exceeding the available credit limit, a fee for late Minimum Monthly Payment,
and other Citibank fees, commissions and charges, at such rates and in such amount, manner and time as provided by this Banking Services Agreement.
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| 2.10. |
The Customer authorizes Citibank to automatically debit his/her rouble current account
towards the repayment of the line of credit debt without any further instructions or
authorizations from the Customer. The Customer may at any time repay his/her debt under
the overdraft facility in full by transferring the appropriate amount to his/her rouble current account. The Customer may at any time repay his/her debt under the line of credit in
full by transferring the appropriate amount from his/her rouble current account to the
loan account.
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| 2.11. |
In the event the funds in the Customer's rouble current account are insufficient to repay
his/her debt under the overdraft facility or the line of credit, the available funds shall be
applied towards the repayment of the Customer's debt to Citibank in the following order
of priority: (a) in the case of the overdraft facility: (i) payment of penalty interest, (ii) payment of interest, and (iii) repayment of principal; (b) in the case of the line of credit: (i)
payment of fees, commissions and penalties, (ii) payment of penalty interest, (iii) payment of interest, and (iv) repayment of principal.
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| 2.12. |
In the event the Customer fails to timely repay any debt owed to Citibank under the overdraft facility, the line of credit or any other loan granted by Citibank to the Customer,
Citibank may declare all obligations of the Customer to Citibank (whether arising out of
the overdraft facility, the line of credit or otherwise) immediately due and payable, in
which case the Customer shall repay all his/her debt owed to Citibank in full on Citibank's
first demand.
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3. Bank Service Packages
This Section describes the packages of banking services offered by Citibank to the Customers,
which include Citibank®, CitiOneTM è CitiGoldTM, and such other packages as may be offered by
Citibank from time to time. The packages vary by type and number of accounts, products and
services available within a package, the requirements to be met by the Customer (e.g. a minimum average monthly balance in the Customer's accounts with Citibank), and the amounts of
fees, commissions or other charges as may be established by Citibank. Citibank reserves the right
to revise the selection of accounts, products and services available within a bank service package, the requirements to be met by the Customer, and the amount of fees, commissions and
other charges established by Citibank for any bank service package, at any time at its sole discretion.
When completing the Application, the Customer chooses a particular bank service package and
agrees to the class and type of accounts, products and services made available by Citibank within the selected package, and to the requirements and the amount of fees, commissions and other
charges established by Citibank and applicable thereto.
The Customer may at any time obtain information about Citibank's bank service packages, the
class and type of accounts, products and services included therein, and the requirements and the
amounts of fees, commissions and other charges applicable thereto, at Citibank branches, on
Citibank's website at www.citibank.ru, or through CitiPhone.
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| 3.1. |
Citibank®
Citibank is a basic bank service package within which the Customer may open a rouble
current account with an overdraft facility or a line of credit and a current account in a foreign currency. The Customer who has chosen Citibank will be issued a Bank Card which
allows the Customer to withdraw cash at ATMs, pay for goods and services and access
his/her Citibank accounts through ATMs, Citibank Online and CitiPhone. Citibank may in
its sole discretion change the set of accounts, products and services available within
Citibank.
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| 3.2. |
CitiOneTM
CitiOne is a bank service package within which the Customer may open a rouble current
account with an overdraft facility or a line of credit and current and savings accounts in
roubles and foreign currencies. The Customer who has chosen CitiOne will be issued a
Bank Card which allows the Customer to withdraw cash at ATMs, pay for goods and services and access his/her Citibank accounts through ATMs, Citibank Online and CitiPhone.
CitiOne may also include a line of credit for the Customer (subject to the satisfaction of
Citibank's lending criteria). The Customer who has chosen CitiOne may also be offered various saving programs and investment products and a possibility of making time deposits
in roubles and foreign currencies. Citibank may in its sole discretion change the set of
accounts, products and services available within CitiOne.
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| 3.3. |
CitiGoldTM
CitiGold is a bank service package within which the Customer may open a rouble current
account with an overdraft facility or a line of credit and current and savings accounts in
roubles and foreign currencies. The Customer who has chosen CitiGold will be issued a
Bank Card which allows the Customer to withdraw cash at ATMs, pay for goods and services and access his/her Citibank accounts through ATMs, Citibank Online and CitiPhone.
CitiGold may also include a line of credit for the Customer (subject to the satisfaction of
Citibank's lending criteria). The Customer who has chosen CitiGold may also be offered
various saving programs and investment products and a possibility of making time
deposits in roubles and foreign currencies. Citibank may appoint dedicated account managers for servicing its CitiGold customers. Citibank may in its sole discretion change the
set of accounts, products and services available within CitiGold.
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4. Accounts
This Section describes the accounts that may be opened by Citibank for the Customer. The type,
the number and the currency of such accounts may vary depending on the bank service package
chosen by the Customer. Citibank reserves the right to change the set of accounts included in
any bank service package, impose restrictions in respect of the currencies in which such
accounts may be opened and maintained and the set of transactions, products and services associated with the Customer's Citibank accounts, at any time at its sole discretion. The account
transactions available to the Customer at Citibank and other products and services associated
with the accounts may be described in greater detail in and governed by the rules and provisions
of other Sections of these Terms and Conditions relating to specific transactions, products or
services.
Current accounts
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| 4.1. |
Current accounts opened by Citibank for the Customer as part of the bank service package
chosen by the Customer allow the Customer to effect various settlement and payment
transactions. No interest will accrue on the Customer's current accounts. The opening and
maintenance by the Customer of a rouble current account with an overdraft facility or a
line of credit shall be mandatory within each of the bank service packages. The Customer
may only close his/her rouble current account provided that all his/her other accounts
opened under this Banking Services Agreement are also closed.
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| 4.2. |
Current accounts may be used by the Customer for withdrawing or depositing cash at
Citibank branches or ATMs with the use of the Bank Card, making and receiving payments
in the currency of the current account, and transferring funds to other accounts opened
by the Customer with Citibank.
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| 4.3. |
When completing the Application, the Customer shall select one of his/her current accounts as a primary current account. (If the Customer fails to select the primary current account in the Application, Citibank may designate the Customer's rouble current account as his/her primary current account). Bank Card transactions initiated by the Customer (e.g. cash withdrawals and deposits at ATMs, payments for goods and services, etc.) will be respectively debited from or credited to the Customer's primary current account. If the currency of the transaction is different from the currency of the primary current account, the transaction amount (and applicable fees, commissions and charges) will be converted into the currency of the Customer's primary account at applicable exchange rates as may be established by Citibank or other banks, financial institutions and/or payment systems through which such transactions are processed.
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Savings accounts
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| 4.4. |
Savings accounts opened by Citibank for the Customer as part of the bank service package chosen
by the Customer allow the Customer to effect banking transactions the list whereof is determined by Citibank.
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| 4.5. |
Interest on the Customer's savings account balances will accrue daily at an annual interest rate as may be established by Citibank from time to time and will be credited to the
appropriate savings account on a monthly basis. The Customer agrees that Citibank may
revise and change the interest rate applicable to savings accounts at any time. The
Customer may at any time obtain information about current interest rates for savings
accounts at Citibank branches or through Citibank Online or CitiPhone.
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| 4.6. |
The Customer may transfer funds from his/her savings account to his/her current or other
accounts with Citibank. In the event the currency of the savings account is different from
the currency of the account to or from which the funds are transferred, the amount of
transfer will be converted by Citibank into the currency of the account to which such
funds will be credited at Citibank's exchange rate effective on the day of processing the
relevant transaction.
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Time deposits
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| 4.7. |
The Customer may place funds held in his/her current or savings accounts with Citibank
in time deposits. A time deposit may only be made by the Customer transferring funds
from his/her current or savings accounts with Citibank. The currency, maturity, interest
rate and other time deposit terms and conditions are subject to separate deposit agreements between Citibank and the Customer.
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| 4.8. |
The Customer may not deposit and Citibank is not obliged to accept the deposit of funds
coming from the Customer as a deposit in the name of any third parties or funds coming
from any third parties as a deposit in the name of the Customer.
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| 4.9. |
A deposit agreement may be entered into by Citibank and the Customer by completing an
application form and/or making a deposit agreement, including through Citibank Online
or CitiPhone.
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| 4.10. |
Where the Customer makes a time deposit through Citibank Online or CitiPhone, the time
deposit terms and conditions will constitute Citibank's offer to enter into a deposit agreement on the stated terms in accordance with Article 438 (3) of the Civil Code of the
Russian Federation, which offer may be accepted by the Customer transferring funds from
his/her current or savings account towards the time deposit. Citibank will accept the
Customer's instruction to transfer funds from his/her current or savings account towards
the time deposit through Citibank Online or CitiPhone, provided that the Customer identifies himself/herself by supplying his/her personal identification code allowing to verify that such funds transfer instruction originates from the Customer. Where the Customer
makes a time deposit through Citibank Online or CitiPhone, the written form of a deposit
agreement is deemed complied with in accordance with Article 434 (2) of the Civil Code
of the Russian Federation.
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| 4.11. |
If the Customer makes a time deposit, Citibank shall within three business days of the date
of deposit send to the Customer a deposit advice containing its amount, currency, deposit
date, maturity date, interest rate, and instructions at maturity date. Such advice shall be
the evidence of the Customer's time deposit made in pursuance of a deposit agreement
between the Customer and Citibank. If the Customer disagrees with the time deposit
terms contained in the advice, the Customer shall notify Citibank in writing of his/her
intent to terminate the deposit agreement, and in such case the deposit amount together with interest accrued as at such date at a rate established by Citibank for prematurely
terminated deposits shall be returned to the Customer's Citibank account from which the
funds have been transferred towards the time deposit, and the deposit agreement shall be
deemed terminated. If Citibank is not in receipt of the Customer's written objection within twenty (20) days of the date of deposit, the deposit agreement shall be deemed entered
into on the terms set out in the advice and the Customer shall not be entitled to demand
any modification of the terms and conditions thereof.
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5. Bank Card
This Section describes the procedure for the issuance, use, cancellation, and replacement of a
debit card issued by Citibank to the Customer (the "Bank Card"). Citibank reserves the right to
revise the set of transactions, services and functions associated with the use of the Bank Card
at any time in its sole discretion. The Bank Card functionalities available at Citibank's ATMs and
described in these Terms and Conditions may not be fully available at other banks' ATMs. The
Customer understands that not all merchants may accept the types of bank cards issued by
Citibank and that merchants may impose limitations on the amounts of transactions and card
holder identification procedures. Citibank will accept no responsibility for, or claims from the
Customer as to, such limitations or card holder identification procedures as may be established
by any merchants.
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| 5.1. |
Upon opening the Customer's account(s), Citibank will issue the Bank Card to the
Customer in accordance with the terms of the bank service package chosen by the
Customer. The Bank Card provides access to the Customer's current and savings accounts
with Citibank through ATMs, Citibank Online or CitiPhone.
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| 5.2. |
The Bank Card will be sent to the mailing address stated by the Customer by mail, registered mail, courier or such other means as may be determined by Citibank. The Bank Card
will be delivered to the Customer inactive. In order to start using the Bank Card, the
Customer will be required to sign the back of the Bank Card and activate the Bank Card by
calling a CitiPhone number indicated on the back of the Bank Card. During the Bank Card
activation process, the Customer will be required to set up his/her personal identification
number ("PIN") and telephone personal identification number ("TPIN"). The Customer
will be required to enter PIN in order to use the Bank Card at ATMs or access his/her
Citibank accounts through Citibank Online. The Customer will be required to use TPIN in
order to access Citibank's services available through CitiPhone. The Customer may request
the issuance of a supplementary Bank Card(s) by submitting to Citibank an application to
this effect in the form established by Citibank along with such other documents on the
supplementary Bank Card holders as may be requested by Citibank. Citibank reserves the
right to limit the circle of persons to whom supplementary Bank Cards may be issued or to
refuse to issue a supplementary Bank Card to any person. The number of supplementary
Bank Cards that may be issued upon the Customer's request may vary among the bank service packages. All procedures, rules, fees, commissions and charges established by Citibank
in relation to the issue and use of the Bank Cards and the carrying out of Bank Card transactions in respect of the Customer's accounts shall fully apply to supplementary Bank Cards and their holders. The Customer undertakes to inform supplementary Bank Card
holders of all such procedures, rules, fees, commissions and charges. The Customer may at
any time cancel all supplementary Bank Cards issued upon the Customer's request by notifying Citibank thereof in the form and manner as determined by Citibank.
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| 5.3. |
The Bank Card may be used by the Customer for (a) ATM cash withdrawals and deposits;
fund transfers across the Customer's Citibank accounts; account information inquiries,
and other ATM transactions; (b) accessing accounts and making payments and transfers
through Citibank Online and CitiPhone; (c) payments for goods and services at merchants
who accept the types of bank cards issued by Citibank; and (d) other transactions and
services that may be made available by Citibank from time to time.
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| 5.4. |
When the Bank Card is used for the purpose of cash withdrawal or deposit at certain ATMs or payment for goods and services, the transaction amount (including applicable fees, commissions and charges) will be debited from or credited to, respectively, the Customer's primary current account. The transaction amount (including applicable fees, commissions and charges) will be converted into the currency of the payment system and then into the currency of the Customer's primary current account at exchange rates as may be established by Citibank or other banks or financial institutions and/or payment systems through which such transaction is processed. The settlement currency used by Citibank and the VISA and MasterCard payment systems for Bank Card transactions performed outside Russia is the United States dollar.
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| 5.5. |
If the Customer is refunded any money paid for goods or services using the Bank Card, the
amount of such refund will be credited to the Customer's primary current account. The
Customer is not entitled to receive a refund in cash.
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| 5.6. |
When the Bank Card is used at an ATM, the ATM will make a printout of every ATM transaction carried out with the use of the Customer's Bank Card and PIN. Citibank recommends
that the Customer retain all such printouts. Unless otherwise provided by these Terms and
Conditions, the details of each ATM transaction carried out with the use of the Customer's
Bank Card and PIN will be communicated to the bank's operating system and will appear
on the Account Statement. The Customer agrees that the transaction printouts issued by
ATMs and/or the details of such transactions appearing on the Account Statement shall
serve as evidence of the Customer's ATM transactions.
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| 5.7. |
The Customer agrees that the use of his/her Bank Card and correct PIN at an ATM will be
considered as proper and sufficient identification of the Customer and authorization to
carry out banking transactions in respect of the Customer's accounts through ATMs.
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| 5.8. |
The Customer understands that the Bank Card is a valuable item and that he/she must
exercise care when handling the Bank Card in order to mitigate the risk of its theft, loss or
Bank Card.related fraud. The Customer must not let other people use the Bank Card and
never take advice from strangers while using it. The Customer must keep his PIN and TPIN
secret and confidential since they are important means of protection for the Customer and
his/her accounts. In the event of unauthorized use of the Bank Card or PIN and TPIN,
there is a risk that the Customer would lose the funds held in his/her accounts (and the
available amount of the overdraft facility or the line of credit). The Customer may change
his/her PIN and TPIN at any time at ATMs or through Citibank Online or CitiPhone.
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| 5.9. |
If the Bank Card has been lost or stolen or if the Customer suspects that the Bank Card has
been lost or stolen, or if there is a risk of unauthorized use of the Bank Card (as well as in
the events when the Bank Card has been damaged or the Customer's name or surname has
been changed), the Customer shall notify Citibank thereof immediately by calling the 24 Hour CitiPhone Banking number indicated on the back of his/her Bank Card. Citibank may
but is not obliged to block the Customer's Bank Card in the event Citibank reasonably
believes that there is a risk of unauthorized use of the Customer's Bank Card.
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| 5.10. |
The Customer agrees that in the event the Bank Card is lost or stolen or if PIN or TPIN has
become known to a third party, Citibank shall have no liability whatsoever for any losses,
damages or expenses that may be incurred by the Customer in connection therewith.
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| 5.11. |
Once the Bank Card has been reported lost or stolen, Citibank will block the Bank Card and
will issue a replacement Bank Card to the Customer.
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| 5.12. |
The Customer understands that if a wrong PIN is entered at an ATM three consecutive
times, the ATM may block and retain the Bank Card. If the Bank Card is blocked and/or
retained by an ATM, the Customer must report this to Citibank in the procedure established
for lost or stolen Bank Cards.
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| 5.13. |
The Bank Card's expiry date is indicated on the front of the Bank Card. Upon expiration of the Bank Card, Citibank will issue a new Bank Card to the Customer.
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| 5.14. |
The Bank Card will always remain the property of Citibank and must be returned to Citibank
upon its first demand. Citibank may, at any time, cancel, block or suspend the use of any
Bank Card, or deny the Customer the renewal, replacement or issue of a new Bank Card.
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* For information regarding the Customer's primary current account please see clause 4.3 hereof.
6. Banking Transactions
This Section describes banking transactions that the Customer may effect in respect of the
accounts opened in his/her name at Citibank. Citibank reserves the right, at any time in its sole
discretion, to amend the list of banking transactions that the Customer may effect in respect of
his/her Citibank accounts. The Customer may effect debit transactions in respect of his/her
Citibank accounts within the cash balance in the accounts and the available overdraft facility or
line of credit (less the amount of any transactions effected by the Customer but not yet charged
to his/her account). The Customer understands that certain banking transactions effected by
the Customer in respect of his/her Citibank accounts may be subject to limitations (e.g. limitations on the type or amount of transaction) as may be imposed by applicable laws, regulations
or internal rules and procedures of Citibank and/or other banks, financial institutions and/or
payment systems through which such transactions are processed*.
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Cash withdrawals and deposits
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| 6.1. |
The Customer may make cash withdrawals from and deposits into his/her Citibank current
and savings accounts at Citibank branches, ATMs, and other banks and financial institutions (if they provide such services and subject to the rules and procedures of such banks
and financial institutions).
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| 6.2. |
The Customer may withdraw or deposit cash in the currency of the respective account or
in other currencies as may be used at a particular point of service. If the currency of the
transaction is different from the currency of the respective account, the transaction
amount will be converted into the currency of the account at Citibank's exchange rate
applicable on the date of transaction (in the case of transactions through Citibank's ATMs
or branches) or at the exchange rate applied by the bank, financial institution or payment
system through which such transaction is processed.
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| 6.3. |
The Customer may deposit cash at Citibank's ATMs using his/her Bank Card, PIN, and special envelopes available at ATM locations following the instructions appearing on the ATM
screen. (Only banknotes may be used for cash deposits at ATMs.) Once cash has been
deposited at an ATM, the ATM will print out a transaction report. The Customer agrees that
such report may not serve as evidence or confirmation of deposit. No transaction will be posted to the Customer's account at the time of making an ATM cash deposit. Cash
deposited by the Customer at an ATM will only be credited by Citibank to the Customer's
account upon its authentication and counting by Citibank. The Customer further agrees
that Citibank's authentication and counting of cash deposited at an ATM will be
deemed conclusive. If as a result of such authentication and counting Citibank determines a discrepancy between the amount stated by the Customer at the ATM location and
the actual amount of deposit, Citibank will credit the actual amount of deposit to the
Customer's account. In the event of a mismatch between the currency of the account chosen by the Customer and the currency of the ATM cash deposit, Citibank will advise the
Customer (by phone or otherwise) of the inability to credit such cash to the Customer's
account, and the Customer may receive the cash deposited at the ATM over the counter at
a Citibank branch. If Citibank detects any counterfeit banknotes deposited at an ATM,
such counterfeit banknotes will be withdrawn and sent by Citibank to the appropriate law
enforcement authorities for further investigation, and Citibank will not replace such banknotes.
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| 6.4. |
Fees, commissions and other charges applicable to cash withdrawals and deposits at
Citibank's ATMs and branches are set out in the Tariffs. The Customer understands that
other banks, financial institutions and/or payment systems may impose their own fees,
commissions and charges for similar services provided by them.
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Funds transfers and payments
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| 6.5. |
The Customer may transfer funds between his/her Citibank accounts at Citibank branches, ATMs, or through Citibank Online, CitiPhone or such other channels as may be established by Citibank. In the event the Customer transfers funds between accounts denominated in different currencies, the amount of such transfer will be converted into the currency of the target account at Citibank's exchange rate applicable on the date the transaction is processed by Citibank.
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| 6.6. |
The Customer may make payments from his/her Citibank current and savings accounts
to the bank accounts of third parties. The Customer may make payments in favor of third
parties in roubles or foreign currencies subject to applicable laws, regulations and
internal rules and procedures of Citibank. The Customer may make payments in favor
of third parties from his/her Citibank accounts at Citibank branches, ATMs, or through
Citibank Online, CitiPhone or such other channels as may be established by Citibank.
Where an amount is paid to an account denominated in a currency other than that of
the source account, such amount will be converted into the currency of the target account
at Citibank's exchange rate applicable on the date the transaction is processed by Citibank.
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| 6.7. |
The Customer may give Citibank a standing order for recurring transfers or an order for a
future date transfer. Subject to the sufficiency of funds in the respective Customer's
account, Citibank will carry out such instructions on the date(s) specified by the Customer
therein.
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| 6.8. |
All funds transfer instructions must be given to Citibank in such form and manner as prescribed
by Citibank. Any transfer of funds from the Customer's account will be made exclusively on the
basis of the Customer's request, and payment documents required for such banking transaction
will be prepared and signed by Citibank. Citibank will not be responsible for any errors or omissions
made by the Customer or for the duplication of any instruction given by the Customer and may act on
any instruction basing solely on the account number, even if the name of the account holder is
misstated. If the Customer informs Citibank that he/she wishes to recall, cancel or amend any
instruction given to Citibank by the Customer, Citibank will use reasonable efforts to comply with
the Customer's request.
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| 6.9. |
In the event of insufficient funds in the Customer's account, Citibank may refuse to act on
the Customer's funds transfer instruction. Citibank will not be obligated to make partial
funds transfers and/or payments, unless required by applicable law.
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| 6.10. |
The Customer's funds transfer instructions will be carried out by Citibank no later than the
first business day following the date of receipt by Citibank of a duly issued funds transfer
instruction together with other necessary documents, if any, unless a later execution date
is specified by the Customer. Citibank may carry out the Customer's funds transfer instruction on the date of receipt of a duly issued funds transfer instruction together with other
necessary documents, if any.
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| 6.11. |
Payments and transfers from other banks and financial institutions in favor of the
Customer will be credited by Citibank to the respective account of the Customer (net of
any costs and expenses related to such payments or transfers) no later than the first business day following the day on which Citibank receives such funds in its account with a correspondent bank or a clearing system. Citibank may credit such payments or transfers to
the Customer's account immediately upon receipt of advice note in electronic form from
the clearing center or other settlement agent.
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| 6.12. |
Foreign currency payments and transfers from the Customer's Citibank accounts to third
party accounts at other banks and financial institutions (whether in or outside Russia) will be made subject to holidays and non.business days in Russia and in the country where
such foreign currency funds are cleared and/or credited.
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| 6.13. |
Citibank will execute all Customer's payment orders or instructions in good faith and with
reasonable care in accordance with banking standards and practices, and may use any
communication, clearing or payment systems, intermediary banks or other persons in its
reasonable discretion. Citibank will act based on the applicable rules and regulations of
such communication, clearing or payment systems and intermediary banks.
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| 6.14. |
Citibank's responsibility for the transfer of funds from the Customer's Citibank account on
the Customer's instruction will cease upon the debiting of Citibank's account with a correspondent bank or a clearing center. Citibank's responsibility for the crediting of funds
to the Customer's Citibank account will only arise upon the final crediting of funds to
Citibank's account with a correspondent bank or a clearing system.
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| 6.15. |
In order to comply with applicable laws and regulations and ensure the security of the
Customer's banking transactions, Citibank may at its sole discretion establish the
Customer's identity verification procedures and the rules and requirements concerning
the necessary documents submittable in order to carry out transactions in respect of the
Customer's Citibank accounts. Such procedures and rules may vary depending on transaction types and communication channels, and the Customer undertakes to strictly follow
the procedures and rules established by Citibank. Notwithstanding that Citibank undertakes to exercise reasonable care in examining the Customer's documents, including payment orders, instructions or communications, Citibank is not obliged to take any further
steps in order to identify, or ascertain the powers and authority of, the person giving such
payment orders, instructions or communications, and is not responsible for any losses
resulting from its compliance with forged payment orders, instructions or communications or the presentation of false identity documents which, despite the exercise of reasonable care, Citibank was unable to detect. In order to ensure the security of the
Customer's banking transactions, Citibank may, but is not obliged to, request confirmation
of any transfer instruction by calling the contact phone number indicated by the
Customer and may suspend the execution of the Customer's transfer instruction until such
confirmation is received. Citibank may, in its discretion, suspend the execution of a payment order or instruction, if Citibank has reasonable doubts concerning its content, the
powers and authority of the issuing person, origination or compliance with applicable
rules and procedures, and will promptly notify the Customer of its decision.
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| 6.16. |
The Customer agrees that erroneous credit entries to the Customer's account may be
annulled (cancelled) by Citibank by means of reverse entries made without prior notice to
the Customer.
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| 6.17. |
The Customer understands that, in some cases, Citibank may be required by applicable
laws and regulations to debit the Customer's accounts without any order or instruction
from the Customer.
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* For information regarding the limitations on transactions imposed by Citibank please see the
Tariffs.
7. CitiPhoneÒÌ
CitiPhone is the Citibank telephone banking system which enables the Customer to carry out
certain banking transactions and access certain Citibank banking services over the phone
(through a CitiPhone operator or an automatic voice response system) 24 hours a day.* Citibank
reserves the right to change the set of services provided to the Customer by means of CitiPhone
or completely discontinue the service with or without prior notice to the Customer, at any time
at its sole discretion.
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| 7.1. |
The Customer may access CitiPhone services over the phone using his/her Bank Card and
TPIN. The Customer agrees that the use of his/her Bank Card number and TPIN will constitute valid and sufficient confirmation of the Customer's identity and authority to carry
out banking transactions in respect of the Customer's accounts by means of CitiPhone.
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| 7.2. |
The Customer may use CitiPhone to transfer funds and make payments out of his/her
Citibank accounts, obtain account information and information on available Citibank
products, services and rates, report lost or stolen Bank Cards, and access other Citibank
services.
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| 7.3. |
The Customer agrees that Citibank will not be responsible for any failure, instability or
interruption of service due to any malfunction of the equipment, power supply systems
and/or communication lines or networks supplied, provided, operated and/or maintained
by third parties. The Customer further agrees that Citibank will not be responsible for any
losses incurred by the Customer in relation to his/her use of CitiPhone (including losses
caused by wrongful acts or omissions of third parties), unless such losses are directly
caused by wrongful acts or omissions of Citibank acting willfully or grossly negligently.
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| 7.4. |
The Customer consents to the transmission of instructions, orders and/or information over
telephone lines (including mobile and other telecommunications) understanding that
telephone lines may not always be a secure communication channel, and agrees to carry
all risks associated with a possible confidentiality breach occurring as a result of the use
of such system.
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* The system may be unavailable during maintenance.
8. Citibank OnlineÒÌ
Citibank Online is the Citibank Internet banking system which enables the Customer to carry out
certain banking transactions and access certain Citibank banking services over the Internet 24
hours a day.* Citibank reserves the right to change the set of services provided to the Customer
by means of Citibank Online or completely discontinue the service with or without prior notice
to the Customer, at any time at its sole discretion.
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| 8.1. |
The Customer may access Citibank Online services using a computer connected to the
Internet. To access Citibank Online, the Customer must create on his/her own a User Name
and a Password following the instructions published on Citibank's website at
www.citibank.ru. Requirements concerning the equipment and software required for the
use of Citibank Online are indicated on the above website.
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| 8.2. |
The Customer agrees that the use of his/her User Name and Password will constitute valid
and sufficient confirmation of the Customer's identity and authority to carry out banking
transactions in respect of the account and to use other Citibank Online services.
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| 8.3. |
The Customer agrees that Citibank will not be responsible for any failure, instability or
interruption of service due to any malfunction of the equipment, power supply systems
and/or communication lines or networks supplied, provided, operated and/or maintained
by third parties. The Customer further agrees that Citibank will not be responsible for any
losses incurred by the Customer in relation to his/her use of Citibank Online (including
losses caused by wrongful acts or omissions of third parties), unless such losses are directly caused by wrongful acts or omissions of Citibank acting willfully or grossly negligently.
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| 8.4. |
The Customer consents to the transmission of instructions, orders and/or information over
the Internet understanding that the Internet may not always be a secure communication
channel, and agrees to carry all risks associated with a possible confidentiality breach
occurring as a result of the use of such system.
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* The system may be unavailable during maintenance.
9. Ñitibank Alerting Service
| 9.1. |
Citibank Alerting Service enables the Customer to receive information about his/her Citibank account and account transactions sent to his/her mobile phone number or e-mail address. The service will be available to the Customer only if paid for in accordance with the Tariffs. Citibank reserves the right to change the set of services provided to the Customer by means of Citibank Alerting Service as well as suspend or completely discontinue the service with or without prior notice to the Customer, at any time at its sole discretion.
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| 9.2. |
The Customer may register for Citibank Alerting Service through Citibank Online or
CitiPhone and select any alerting service currently available. Citibank Alerting Service will
automatically send account and/or transaction information to the mobile phone number
or e.mail address indicated by the Customer in the format of SMS or e-mail messages as
the Customer elects. (It is the Customer's responsibility to ensure that his/her mobile
phone supports the SMS function and that the Customer is subscribed to the SMS service
provided by his/her mobile operator. The Customer understands that mobile operators
may charge a fee for transmitting SMS messages and that settlements with the mobile
operator will be the Customer's responsibility.) The Customer may at any time cancel any
alerting service through Citibank Online or CitiPhone.
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| 9.3. |
The Customer agrees that Citibank will not be responsible for any failure, instability or
interruption of service due to any equipment, power supply systems and/or communication lines or networks supplied, provided, operated and/or maintained by third parties.
The Customer further agrees that Citibank will not be responsible for any losses incurred
by the Customer in relation to his/her use of Citibank Alerting Service (including losses
caused by wrongful acts or omissions of third parties), unless such losses are directly
caused by wrongful acts or omissions of Citibank acting willfully or grossly negligently.
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| 9.4. |
The Customer consents to the transmission of instructions, orders and/or information via
SMS channels and e.mail understanding that such information transmission channels may
not always be secure, and agrees to carry all risks associated with a possible confidentiality breach occurring as a result of the use of such information transmission channels.
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10. Account Statement
| 10.1. |
A consolidated statement of accounts (the "Account Statement") will be generated on a quarterly basis to include information on all accounts opened by Citibank for the Customer. The Account Statement will contain information on the Customer's account balances as at the end of the period to which it relates, and information on all transactions carried out in respect of the Customer's accounts during such period.
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| 10.2. |
The Customer may receive an e-mail and/or mobile phone notification of the availability of the Account Statement for viewing in Citibank Online (the "Notification of Statement Availability"). The Account Statement can be viewed by logging on to Citibank Online. The Customer may request the Account Statement for a previous period at Citibank branches or through Citibank Online or CitiPhone at any time.
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| 10.3. |
The Customer agrees to carefully check the Account Statement and notify Citibank of any errors, discrepancies, or questions concerning the information contained in the Account Statement, within twenty (20) days of its issue by Citibank or of receipt of the Notification of Statement Availability. If Citibank does not receive such notice within the above 20-day period, the Customer shall be deemed to have accepted and agreed with all information contained in the Account Statement.
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11. Average Monthly Relationship Balances and a relationship Balance at the End of a Calendar Month
| 11.1. |
Citibank may require that the Customer maintain a certain aggregate amount of funds in his/her Citibank accounts during each calendar month (the «Average Monthly Relationship Balance»), a certain aggregate amount of funds in his/her Citibank accounts during three (3) calendar months (the «Average Monthly Relationship Balance for Three Months», and a certain aggregate amount of funds in his/her Citibank accounts at the end of a calendar month (the «Relationship Balance at End of Calendar Month»). The Average Monthly Relationship Balance, the Average Monthly Relationship Balance for Three Months and the Relationship Balance at End of Calendar Month shall be referred to as the «Required Balances». The Average Monthly Relationship Balance is calculated as the sum of daily credit balances (as at the beginning of day) in all of the Customer’s Citibank accounts in any given month divided by the number of days in the respective month. The Average Monthly Relationship Balance for Three Months is calculated as the average of Average Monthly Relationship Balances for the last three (3) full calendar months. The Relationship Balance at End of Calendar Month is calculated as the sum of credit balances in all of the Customer’s Citibank accounts as at the last calendar day of the month. The Required Balances shall also include balances in brokerage and custody accounts. The Required Balances may vary across the bank service packages offered by Citibank. If the Customer fails to maintain the Required Balances, Citibank may change his/her bank service package. If the bank service package is changed, the service provided to the Customer shall be governed by these Terms and Conditions and the Tariffs applicable to the relevant bank service package starting from the date the change is approved by Citibank, and Citibank shall give the Customer written notice of such change. If at the date of the bank service package change the number of supplementary Bank Cards issued to the Customer is in excess of that allowed within the bank service package prescribed by Citibank, Citibank may cancel the supplementary Bank Card that was issued last.
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12. Payment of Fees
| 12.1. |
The Customer undertakes to pay Citibank all applicable banking fees, commissions and charges as set out in the Tariffs. The Customer agrees that all fees, commissions, Minimum Monthly Payments under a line of credit, and other charges payable by the Customer to Citibank will be automatically debited by Citibank from the Customer's current account(s) on relevant dates without any further instructions from the Customer, and the Customer hereby authorizes Citibank to make such debits to his/her accounts. In the event of insufficient funds in the Customer's account wherefrom such fees, commissions and charges must be debited, Citibank may transfer funds to such account from any of the Customer's other accounts, including foreign currency accounts (and, if necessary, convert the funds to be transferred into the currency of the target account at Citibank's exchange rate applicable on the date of transaction), and debit the Customer's account for the amount of payable fees, commissions and charges or debit any of the Customer's other accounts, including foreign currency accounts (and, if necessary, convert the funds to be debited into the currency of fees, commissions and charges at Citibank's exchange rate applicable on the date of transaction) for the amount of payable fees, commissions and charges.
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13. Set-off
| 13.1. |
The Customer agrees that Citibank may use any credit balance in any of the Customer's
accounts with Citibank (irrespective of the currency of such account(s)) to offset any
monetary obligations of the Customer to Citibank outstanding under this Banking
Services Agreement or under any other agreements or arrangements that have given rise
to such monetary obligations of the Customer to Citibank. For this purpose, the Customer
hereby authorizes Citibank to convert any amounts held in the Customer's accounts in any
currency into the currency of the Customer's outstanding obligation at Citibank's
exchange rate applicable on the date of such conversion.
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| 13.2. |
The Customer agrees that any and all of the Customer's securities, financial instruments
and other assets or things held or deposited with Citibank (acting in its capacity as custodian, broker, agent or otherwise) will serve as security for any of the Customer's obligations to Citibank. The Customer hereby authorizes Citibank to sell (or otherwise dispose
of) any of the above assets at their current market price (or, if no current market price is
available, at a price deemed reasonable by Citibank) and apply the proceeds towards the
Customer's outstanding obligations to Citibank.
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14. Verification, Monitoring and Recording
| 14.1. |
The Customer confirms that all information provided by the Customer to Citibank in connection with this Banking Services Agreement is true and correct in all respects and
undertakes to promptly notify Citibank of any changes in the information provided to
Citibank. The Customer agrees that Citibank may verify any information provided by the
Customer and authorizes Citibank to conduct such verifications as Citibank deems appropriate.
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| 14.2. |
The Customer agrees that Citibank may conduct video and electronic monitoring and telephone recording on its premises for the purposes of security and proper customer service
without further notice to the Customer or his/her authorized representatives (and it is the
Customer's responsibility to notify his/her authorized representatives that Citibank may
conduct such monitoring and recording). The Customer further agrees that telephone,
video and electronic records may be used as evidence in any proceedings.
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| 14.3. |
The Customer agrees that all conversations and communications between the Customer
and a Citibank representative over CitiPhone will be recorded by Citibank for the purposes of security and proper customer service, and that such records may be used as evidence
in any proceedings.
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15. Compliance with Law
| 15.1. |
The Customer understands that banking transactions and services provided by Citibank to
the Customer are governed by applicable Russian laws and regulations. (Certain types of
transactions may also be governed by the laws and regulations of foreign countries where
such transactions are effected or processed). Under applicable laws and regulations,
Citibank is charged with a number of control responsibilities in relation to certain types
of customer transactions (e.g. foreign currency transactions, cash transactions, possibly
suspicious transactions) and a duty to disclose information regarding customer accounts
and transactions to various government and law enforcement agencies. For this purpose,
Citibank may, from time to time, request the Customer to provide various documents
and/or written explanations, and the Customer agrees to do so upon Citibank's request.
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| 15.2. |
The Customer agrees that if, in the opinion of Citibank, the performance of any transaction in respect of the Customer's account may result in a breach of applicable laws and
regulations, Citibank may refuse to perform or suspend the performance of the transaction
until such time as the Customer provides to Citibank's satisfaction such documents or
other information as may be requested by Citibank in connection with the Customer's
transaction.
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16. Settlement of Disputes
| 16.1. |
Notwithstanding that Citibank will strive to ensure that all of the Customer's transactions
are carried out in compliance with these Terms and Conditions, disputable situations may
arise for various reasons (e.g. communication of inaccurate or incomplete information by
the Customer, data processing errors) and the parties undertake to settle such disputable
situations through amicable negotiations.
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| 16.2. |
In the event the Customer discovers any disputable situation associated with his/her
Citibank accounts, the Customer will immediately notify Citibank thereof through
CitiPhone. If the disputable situation can not be resolved by a Citibank representative
over CitiPhone, Citibank may request the Customer to submit a written statement of such
disputable situation to a Citibank branch. Citibank undertakes to promptly submit such
written statement for consideration by an authorized Citibank officer. The Customer may
obtain information regarding the current status of his/her written statement through
CitiPhone.
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| 16.3. |
Citibank will use its best endeavors to settle the existing disputable situation and will
inform the Customer in writing of the results of its investigation within ninety (90) days
of receipt of the Customer's written statement. Citibank may ask the Customer to meet an
authorized Citibank officer in person in order to settle the disputable situation. Where
necessary, Citibank may involve various experts and specialists with relevant knowledge
and expertise (whether or not employed by Citibank) in order to settle the disputable situation.
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| 16.4. |
If a disputable situation is not settled by the parties within ninety (90) days of receipt of
the Customer's written statement, the matter will be referred to court as described below.
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17. Term and Termination
| 17.1. |
This Banking Services Agreement is made for a term of one (1) year and will automatically
renew thereafter for successive one-year terms, unless Citibank gives prior written notice
of termination to the Customer.
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| 17.2. |
The Customer may at any time terminate this Banking Services Agreement by giving thirty (30) days' prior written notice to Citibank and instructing Citibank to transfer funds
held in the Customer's accounts with Citibank to the account(s) at another bank or financial institution.
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| 17.3. |
This Banking Services Agreement will terminate in the event Citibank cancels the credit
limit established for the Customer. In this case, Citibank will give the Customer a written
notice of credit limit cancellation, and this Banking Services Agreement will terminate on
the date specified by Citibank in such notice.
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| 17.4. |
In the event this Banking Services Agreement is terminated for whatever reason, all accounts
opened by Citibank for the Customer will be closed, the Bank Card issued by Citibank to the
Customer (and any supplementary Bank Cards) will be blocked and revoked, and any debt
owed by the Customer to Citibank (together with accrued interest) will become due and payable
within thirty (30) days of termination of this Banking Services Agreement. Citibank will return to
the Customer all credit balances in the Customer's Citibank accounts (less the amount of any
debt owed by the Customer to Citibank) by transferring such funds to the account(s) at another
bank or financial institution in accordance with the Customer's instruction. If Citibank has not
received from the Customer an instruction to transfer funds to another bank or financial
institution by the time of account closure, Citibank may return the funds held in the Customer's
accounts as at the closure date to the Customer by means of wire or postal transfer in the
Customer's name to the mailing address indicated by the Customer. The Customer agrees
that Citibank's obligation to repay funds to the Customer upon termination of this Banking
Services Agreement will be duly discharged by making the above transfer. (Citibank may
withhold expenses related to such transfers). If the credit balances in the Customer's Citibank
accounts have not been returned to the Customer in any manner set out above in this clause,
the Customer may receive the funds, if any, at any Citibank branch upon written request.
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| 17.5. |
The termination of this Banking Services Agreement for whatever reason shall not in any
way affect or change the Customer's obligations to Citibank that arose prior to such termination and remain outstanding as at the termination date, nor shall it affect or change
Citibank's rights and remedies granted to Citibank under this Banking Services Agreement
with respect to any of the Customer's obligations that arose prior to such termination and
remain outstanding as at the termination date.
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18. Miscellaneous
| 18.1. |
Citibank will not be responsible for any non.performance or improper performance of its
obligations under this Banking Services Agreement, if it is unable to perform such obligations or encounters difficulties in their performance or timely performance due to the
occurrence of force majeure events, including but not limited to the adoption, publication
or change in the interpretation or application of any laws, regulations, decisions, etc. by
governmental or municipal authorities of the Russian Federation or other countries, the
Central Bank of the Russian Federation or central (national) banks of other countries
(including restrictions on currency convertibility or transferability), which would make
the performance of obligations by Citibank illegal or unlawful, as well as sabotage, fire,
flood, explosion, natural calamity, civil commotion, strike or industrial action of any kind,
riot, insurrection, war or act of government, or any other events beyond the reasonable
control of Citibank (the "Force Majeure Events"). Unless the parties otherwise agree in
writing, upon the occurrence of Force Majeure Events Citibank may suspend the performance of its obligations under this Banking Services Agreement affected by the Force
Majeure Events until such Force Majeure Events cease to exist.
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| 18.2. |
Neither party may assign or otherwise dispose of its rights and obligations under this
Banking Services Agreement without the other party's prior written consent, except that
Citibank may assign its rights and delegate its obligations under this Banking Services
Agreement to its branches, subsidiaries or other affiliates, provided that this does not
affect the quality of service provided to the Customer.
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| 18.3. |
The Customer agrees that Citibank may at any time unilaterally modify or amend this
Banking Services Agreement (including the Tariffs). Modifications and amendments to
this Banking Services Agreement made in respect of the Terms and Conditions shall
become effective thirty (30) days after publication of the new version of the Terms and
Conditions on Citibank's web site at www.citibank.ru. Citibank shall, on an annual basis,
send a written notice of all modifications or amendments for the period elapsed (except
where the same are made to the Tariffs) to the mailing address indicated by the
Customer. Modifications and amendments to this Banking Services Agreement made
in respect of the Tariffs shall become effective as of the date of Citibank's relevant
decision, provided that such decision may not be applied retroactively. The Customer
may at any time obtain and familiarize himself/herself with the current version of the
Banking Services Agreement at Citibank branches or on Citibank's web site at
www.citibank.ru. The parties agree that this Banking Services Agreement may only be
modified or amended in the above procedure and that no other documents, publications,
information or advertising materials (whether written or otherwise) may modify or amend
this Banking Services Agreement."
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| 18.4. |
Citibank's liability to the Customer will be limited to actual documented damage incurred
by the Customer as a result of wrongful acts or omissions by Citibank acting willfully or
grossly negligently. Under no circumstances will Citibank be liable to the Customer for any
indirect, incidental or consequential loss or damage (including lost profit) even if advised
of the possibility of such loss or damage.
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| 18.5. |
The Customer will be liable to Citibank for any and all losses (including lost profit), dam.
age or costs incurred by Citibank as a result of the Customer's breach of this Banking
Services Agreement or applicable laws and regulations.
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| 18.6. |
The Customer acknowledges and agrees that the obligations of Citibank arising out of or
in connection with this Banking Services Agreement are the obligations of ZAO Citibank
alone and are not the obligations of Citigroup, Inc. (USA) or any other of its branches,
subsidiaries or affiliates whether in Russia or abroad.
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| 18.7. |
Citibank will treat information relating to the Customer as confidential, however, the
Customer agrees that Citibank may transfer and disclose any information relating to the
Customer to Citibank's branches, subsidiaries, representative offices, affiliates, agents, or
third parties, at the discretion of any of them and irrespective of their location, for confidential use (including in connection with the provision of banking services and products,
data processing, statistical accounting, and risk assessment). Citibank and any of its
branches, subsidiaries, representative offices, affiliates, agents, or third parties, may transfer and disclose any such information as required by law, court order, or a regulating or
law enforcement agency
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| 18.8. |
If any provision of this Banking Services Agreement is or becomes illegal, invalid or unenforceable, that shall not affect the validity of any other provisions of this Banking Services
Agreement.
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| 18.9. |
Any failure to exercise or delay in exercising by either party of its rights or remedies under
this Banking Services Agreement will be limited to a specific instance whereto such failure to exercise or forbearance relate, and will not affect any further exercise of rights or
remedies.
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| 18.10. |
This Banking Services Agreement will be governed by and construed in accordance with
the laws of the Russian Federation without regard to conflict of laws rules. Subject to the
provisions of Section 16 ("Settlement of Disputes"), any dispute, controversy or claim arising out of or in connection with this Banking Services Agreement, including any dispute
related to the existence, validity or termination of contractual relationship between
Citibank and the Customer, will be referred by the parties to a court at Citibank's location.
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| 18.11. |
This Banking Services Agreement may be executed by the parties in Russian and English
but the Russian version of this Banking Services Agreement shall prevail and shall be used
as the main one in any proceedings.
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19. Third Party Services
| 19.1. |
While using a particular Citibank bank service package, the Customer may receive additional services, benefits or offers (e.g. discounts at certain hotel chains, restaurants, etc.)
as may be available pursuant to agreements between Citibank and third party providers.
Citibank may advise the Customer of the availability of such additional services, benefits
or offers in such manner as Citibank deems appropriate. The Customer understands that
(a) such additional services, benefits or offers are provided to the Customer by third parties and not by Citibank; (b) Citibank makes no representations or warranties whatsoever
as to any of such services, benefits or offers, or their quality, availability and continuity;
and (c) Citibank accepts no responsibility in connection with the use by the Customer of
such services, benefits and/or offers as may be provided to the Customer by third parties.
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Important Tax Information
In accordance with tax laws, in certain instances Citibank may act as a tax agent of the Customer
and therefore withhold and pay certain taxes on behalf of the Customer out of funds held in the
Customer's accounts with Citibank or funds payable by Citibank to the Customer. For this purpose, Citibank may require the Customer to provide his/her individual taxpayer identification
number to Citibank. Citibank will make the required calculations and withholdings at such rates
and in such manner as established by applicable laws and regulations and may provide the
Customer with information on such withholdings and payments at the Customer's request.
The Customer will be required to notify Citibank of his/her residency and/or tax status in the
United States of America (i.e., whether he/she has US citizenship or residence permit, or
whether the Customer acts on behalf of a US citizen or resident) and, if applicable, provide to
Citibank his/her US individual taxpayer identification number. In order to be compliant with
applicable US tax laws, the Customer (if a US citizen or resident) authorizes Citibank to disclose
to the US Internal Revenue Service his/her personal data, account details, income, and account
balances. If there is any change in the Customer's US tax status, the Customer is obliged to notify Citibank thereof within 30 days. A false statement or misrepresentation of US tax status will
lead to penalties under US law.
© ZAO Citibank, 2009
"Ñèòèáàíê", "Citibank", "CitiPhone", "CitiOne", and
"CitiGold" are trademarks and/or service marks owned
by Citigroup, Inc., Citibank, N.A., Citicorp, Inc. and/or
their affiliates. Any unauthorized use of
such trademarks and
service marks is prohibited and will result in
prosecution under applicable laws.
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