Time Deposits



Deposit Agreement

• Time Deposits • Top-up Deposits • Deposit Agreement

TOP-UP TIME DEPOSIT CONDITIONS

These Top-Up Time Deposit Conditions (the "Conditions") shall apply to top-up time deposits (the "Deposits") placed with ZAO Citibank ("Citibank") by a Citibank customer (the "Customer") who has dully completed and signed a top-up time deposit application form or made a top-up time deposit application through CitiPhone (in both cases referred to as the "Application"). In order to top up the Deposit, the Customer shall complete a top-up funds transfer request form (the "Top-Up Request"). The Customer's Application provided to Citibank in writing or through CitiPhone, these Conditions and a Deposit placement advice (the "Advice") shall together constitute a deposit agreement between Citibank and the Customer (the "Deposit Agreement"), and the provisions of the Application and these Conditions shall apply to each Deposit, but in the event of any conflict between the provisions of the Application and these Conditions the latter shall prevail.
  1. Terms and conditions
    The Deposits may be placed by the Customer in Russian roubles in the amount, for the term and subject to the conditions as agreed by the parties. Citibank shall not be obliged to accept the deposit of funds in an amount other than that stated in the Application or Top-Up Request. Notwithstanding the above, if Citibank elects to accept the deposit of such other amount, then all terms and conditions set out in the Application and these Conditions shall apply thereto. Citibank guarantees to the Customer the safety and repayment of the Deposit in the manner provided by applicable Russian law.

  2. Placement
    The Customer may place the Deposit by transferring funds from his/her account(s) with Citibank. The Deposit date shall be the date immediately following the date of debiting the Customer's account with Citibank. The Customer may not deposit and Citibank is not obliged to accept the deposit of funds (a) coming from the Customer as a deposit in the name of any third parties or (b) coming from any third parties as a deposit in the Customer's name.

  3. Toping Up The Customer may top up the Deposit throughout its term in accordance with the Top-Up Request. Additional deposits shall be made by transferring funds from the Customer's account(s) with Citibank. The date of additional deposit shall be the date immediately following the date of debiting the Customer's account with Citibank. The Customer may make additional deposits no earlier than two (2) calendar days after the Deposit date and no later than ten (10) calendar days before maturity in the case of 90- and 180-day Deposits or twenty (20) calendar days before maturity in the case of a 360-day Deposit.

  4. Interest
    Interest shall accrue at an annual rate determined by Citibank on the Deposit date. The interest rate shall be communicated to the Customer in writing in the Advice. Interest shall accrue daily on the Deposit amount placed subject to clause 3 above throughout the term of the Deposit using a simple interest formula. Interest shall not be compounded and shall be paid on maturity. The Customer may not demand payment of interest prior to maturity.

  5. Advice
    The Advice shall be sent to the mailing address provided by the Customer within three (3) business days of the Deposit date and shall contain the Deposit amount, the Deposit currency, the Deposit date, the maturity date, the interest rate, and instructions on maturity. The Advice shall be proof of the fact that the Customer has deposited money upon entering into the Deposit Agreement with Citibank. If the Customer disagrees with the Deposit amount, term or interest rate indicated in the Advice, the Customer shall inform Citibank in writing of his/her desire to terminate the Deposit Agreement, and the Deposit amount, together with interest accrued at the rate established by Citibank for savings accounts in the respective currency on the Deposit Agreement termination date, shall be credited to the Customer's Citibank account from which the funds have been transferred to the Deposit, and the Deposit Agreement shall be deemed terminated. Unless Citibank receives the Customer's written objections within twenty (20) calendar days of the Deposit date, the Deposit Agreement shall be deemed entered into on the terms indicated in the Advice and the Customer shall have no right to demand changes to be made to the Deposit Agreement.

  6. Repayment
    Unless otherwise provided in the Application and these Conditions, on maturity, Citibank shall repay the Deposit amount, together with accrued interest, to the Customer by crediting the Customer's Citibank account from which the funds have been transferred to the Deposit. If, at the Customer's request, Citibank repays the Deposit amount to the Customer prior to the original maturity date, Citibank shall be entitled to apply a rate of 0.05% per annum to such Deposit.

  7. Miscellaneous
    The Customer may not assign, transfer, alienate, encumber or otherwise dispose of his/her rights under the Deposit Agreement without Citibank's prior consent in writing. Any such assignment, transfer, alienation, encumbrance or other disposal by the Customer of his/her rights under the Deposit Agreement in violation of the provisions of this clause shall be deemed null and void.

The Customer hereby agrees that Citibank may at any time by written notice set off the Customer's claims to Citibank under the Deposit Agreement against any Citibank's claims to the Customer which were not satisfied by the Customer when due, and if the currency of the Deposit differs from the currency of the Customer's obligation owed to Citibank, Citibank may convert the Deposit amount into the currency of the Customer's obligation at the exchange rate determined by Citibank for such currencies on the date of conversion.

Citibank shall not be responsible for any default on or improper performance of its obligations under the Deposit Agreement if it becomes unable to perform them or is precluded from timely performance as a result of any force-majeure events, including inter alia any promulgation or changes in the interpretation or application of any decisions or regulations of the authorities of the Russian Federation or other countries, the Central Bank of the Russian Federation or the central/ national banks of other countries, which make the proper performance by Citibank of its obligations under the Deposit Agreement illegal, unlawful or impossible, or any other events that are beyond reasonable control of Citibank and occur after the date of the Deposit Agreement ("Force-Majeure"). Unless otherwise agreed by the parties, in the event of any Force-Majeur Citibank shall not be obliged to perform its obligations under the Deposit Agreement that are affected by Force-Majeure until such event of Force-Majeure ceases to exist.

The terms and conditions of placing the Deposit via CitiPhone shall constitute Citibank's offer to enter into the Deposit Agreement on such terms and conditions in compliance with paragraph 3 of article 438 of the RF Civil Code, which may be accepted by the Customer by transferring funds to the Deposit. Citibank shall accept the Customer's Application via CitiPhone provided the Customer identifies him-/herself by using his/her personal identification code that allows to reliably verify that the Application comes from the Customer. If the Customer places the Deposit through CitiPhone, a written form of contract is deemed to be complied with under paragraph 2 of article 434 of the RF Civil Code. The procedure for and terms of applying through CitiPhone shall be determined by Citibank and communicated to the Customer through the aforementioned communication channel.

The Customer acknowledges and agrees that the obligations undertaken by Citibank under the Deposit Agreement shall only be the obligations of ZAO Citibank and shall not be the obligations of Citigroup, Inc. (U.S.A.), or any of its other subsidiaries or affiliates whether in or outside Russia.

The Deposit Agreement between Citibank and the Customer shall be governed by and construed in accordance with Russian law. Any dispute, difference or claim arising out of or in connection with the Deposit Agreement, including any dispute as to its existence, validity or termination, shall be referred to a court at Citibank's location.

The Deposit Agreement may be executed in Russian and English but the Russian version takes precedence and must prevail in any and all proceedings.